Automatic Data Processing, Inc. $ADP Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,937 shares of the business services provider’s stock after selling 2,164 shares during the period. Granite Investment Partners LLC’s holdings in Automatic Data Processing were worth $7,302,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Imprint Wealth LLC acquired a new position in shares of Automatic Data Processing during the 3rd quarter valued at about $25,000. Cornerstone Financial Management LLC purchased a new position in Automatic Data Processing in the fourth quarter valued at approximately $26,000. Bard Associates Inc. acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $28,000. Board of the Pension Protection Fund acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $31,000. Finally, Prosperity Bancshares Inc purchased a new stake in Automatic Data Processing during the fourth quarter worth approximately $33,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Stifel Nicolaus raised their target price on shares of Automatic Data Processing from $240.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday. Guggenheim assumed coverage on Automatic Data Processing in a report on Thursday, March 19th. They issued a “buy” rating and a $270.00 price target for the company. UBS Group raised their price objective on Automatic Data Processing from $210.00 to $218.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Argus decreased their target price on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Finally, TD Cowen increased their target price on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research note on Monday. One equities research 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 company has a consensus rating of “Hold” and an average price target of $246.21.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $241.37 on Thursday. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $315.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $96.48 billion, a P/E ratio of 22.52 and a beta of 0.83. The company’s fifty day moving average price is $222.62 and its two-hundred day moving average price is $225.10.

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

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.