AlTi Global Inc. Sells 2,439 Shares of Automatic Data Processing, Inc. $ADP

AlTi Global Inc. lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 22.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,650 shares of the business services provider’s stock after selling 2,439 shares during the quarter. AlTi Global Inc.’s holdings in Automatic Data Processing were worth $1,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Imprint Wealth LLC purchased a new position in Automatic Data Processing in the 3rd quarter worth approximately $25,000. Cornerstone Financial Management LLC bought a new position in Automatic Data Processing in the 4th quarter valued at approximately $26,000. Bard Associates Inc. purchased a new stake in Automatic Data Processing during the 4th quarter valued at $28,000. Whipplewood Advisors LLC boosted its stake in Automatic Data Processing by 2,740.0% during the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 137 shares during the last quarter. Finally, Prosperity Bancshares Inc bought a new stake in shares of Automatic Data Processing in the 4th quarter worth $33,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

ADP stock opened at $255.24 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $315.98. The company has a market cap of $102.03 billion, a P/E ratio of 23.81 and a beta of 0.83. The stock’s fifty day moving average price is $228.87 and its 200-day moving average price is $224.58.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.07. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.Automatic Data Processing’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADP has been the subject of several recent analyst reports. Robert W. Baird decreased their price target on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Automatic Data Processing in a report on Tuesday, July 7th. UBS Group boosted their target price on Automatic Data Processing from $210.00 to $218.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Morgan Stanley lowered their target price on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 28th. Finally, Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $240.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $248.64.

Automatic Data Processing Profile

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.