Conning Inc. Acquires 36,630 Shares of Automatic Data Processing, Inc. $ADP

Conning Inc. raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 28.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 164,051 shares of the business services provider’s stock after acquiring an additional 36,630 shares during the quarter. Conning Inc.’s holdings in Automatic Data Processing were worth $33,332,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. State Street Corp increased its position in 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 valued at $4,903,769,000 after buying an additional 133,039 shares in the last quarter. Geode Capital Management LLC grew its position in Automatic Data Processing by 1.2% in 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 purchasing an additional 136,876 shares during the period. Capital Research Global Investors increased its stake in Automatic Data Processing by 4.6% during the 4th 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 purchasing an additional 372,413 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of 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 valued at $1,896,944,000 after buying an additional 544,210 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Automatic Data Processing by 5.7% during 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 in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $241.92 on Friday. The firm has a market cap of $96.70 billion, a P/E ratio of 22.57 and a beta of 0.83. 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’s 50 day moving average is $224.00 and its 200-day moving average is $225.10. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $315.98.

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

Analysts Set New Price Targets

Several analysts have recently commented on ADP shares. Mizuho lowered their price objective on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Wells Fargo & Company lifted their target price on shares of Automatic Data Processing from $214.00 to $248.00 and gave the stock an “equal weight” rating in a research report on Thursday. Robert W. Baird cut their price objective on Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Automatic Data Processing in a research report on Tuesday. Finally, Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $240.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.