California Public Employees Retirement System Has $215.36 Million Position in Automatic Data Processing, Inc. $ADP

California Public Employees Retirement System cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,059,930 shares of the business services provider’s stock after selling 146,876 shares during the period. California Public Employees Retirement System’s holdings in Automatic Data Processing were worth $215,357,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ADP. Northwestern Mutual Wealth Management Co. raised its holdings in Automatic Data Processing by 6,493.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock valued at $892,120,000 after buying an additional 3,415,576 shares during the last quarter. Cardano Risk Management B.V. grew its holdings in Automatic Data Processing by 950.1% during the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock worth $916,557,000 after acquiring an additional 3,223,855 shares during the last quarter. Norges Bank bought a new stake in Automatic Data Processing during the 4th quarter worth approximately $721,738,000. Clearbridge Investments LLC increased its position in Automatic Data Processing by 133.3% in the 4th quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider’s stock valued at $434,151,000 after acquiring an additional 964,405 shares during the period. Finally, Wellington Management Group LLP increased its position in Automatic Data Processing by 8.0% in the 4th 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 acquiring an additional 544,210 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.5%

NASDAQ:ADP opened at $255.26 on Friday. The firm’s fifty day moving average is $228.00 and its 200-day moving average is $224.86. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $315.98. The firm has a market cap of $102.04 billion, a P/E ratio of 23.81 and a beta of 0.83.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ADP. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing from $240.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, July 8th. Argus decreased their price objective on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Wells Fargo & Company raised their target price on Automatic Data Processing from $214.00 to $248.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. BMO Capital Markets cut their target price 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. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Automatic Data Processing in a research report on Tuesday, July 7th. 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’s stock. Based on data from MarketBeat, the company currently 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.