Automatic Data Processing, Inc. $ADP Shares Acquired by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.1% during the 1st quarter, Holdings Channel reports. The fund owned 18,003 shares of the business services provider’s stock after purchasing an additional 2,218 shares during the quarter. Parr Mcknight Wealth Management Group LLC’s holdings in Automatic Data Processing were worth $3,658,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of ADP. Imprint Wealth LLC purchased a new position in shares of Automatic Data Processing during the 3rd quarter valued at approximately $25,000. Cornerstone Financial Management LLC purchased a new stake in Automatic Data Processing during the fourth quarter worth $26,000. Bard Associates Inc. acquired a new stake in Automatic Data Processing during the fourth quarter valued at $28,000. Whipplewood Advisors LLC increased its holdings in Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after buying an additional 137 shares in the last quarter. Finally, Board of the Pension Protection Fund purchased a new position in Automatic Data Processing in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $241.92 on Monday. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $315.98. The stock has a market cap of $96.70 billion, a PE ratio of 22.57 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50 day moving average price of $224.00 and a 200 day moving average price of $224.86.

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, topping analysts’ consensus estimates of $3.30 by $0.07. The company 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 firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Equities research analysts expect that Automatic Data Processing, Inc. will post 11.08 EPS for the current fiscal year.

Analyst Ratings Changes

ADP has been the topic of several recent analyst reports. Guggenheim began coverage on shares of Automatic Data Processing in a research note on Thursday, March 19th. They set a “buy” rating and a $270.00 target price on the stock. Robert W. Baird reduced their price target on Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. BMO Capital Markets dropped their price objective on Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating on the stock in a report on Tuesday, April 7th. Stifel Nicolaus upped their target price on Automatic Data Processing from $240.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, July 8th. Finally, Morgan Stanley dropped their price target 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.