Balentine LLC Lowers Position in Automatic Data Processing, Inc. $ADP

by · The Markets Daily

Balentine LLC trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 59.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,316 shares of the business services provider’s stock after selling 4,927 shares during the period. Balentine LLC’s holdings in Automatic Data Processing were worth $674,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its position in shares of Automatic Data Processing by 0.7% in the 4th quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock worth $4,903,769,000 after buying an additional 133,039 shares during the period. Geode Capital Management LLC increased its position in Automatic Data Processing by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock valued at $2,977,777,000 after buying an additional 136,876 shares in the last quarter. Capital Research Global Investors raised its stake in Automatic Data Processing by 4.6% during the fourth quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock valued at $2,159,088,000 after buying an additional 372,413 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Automatic Data Processing by 8.0% in the fourth quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock worth $1,896,944,000 after acquiring an additional 544,210 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Automatic Data Processing by 5.7% in the third quarter. Invesco Ltd. now owns 4,837,993 shares of the business services provider’s stock worth $1,419,951,000 after acquiring an additional 261,312 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Mizuho lowered their price target on Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Robert W. Baird cut their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Cantor Fitzgerald reduced their price objective on shares of Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. TD Cowen raised shares of Automatic Data Processing to a “hold” rating in a report on Monday, May 18th. Finally, Argus lowered their price objective on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $244.29.

Read Our Latest Analysis on ADP

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $235.73 on Thursday. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $315.98. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average price of $218.34 and a 200-day moving average price of $225.87. The firm has a market capitalization of $94.23 billion, a PE ratio of 21.99 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP – Get Free Report) last posted its earnings results on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.07. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.85 billion. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were issued a $1.70 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. Automatic Data Processing’s payout ratio is presently 63.43%.

About Automatic Data Processing

(Free Report)

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.

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