Matrix Asset Advisors Inc. NY Takes Position in Automatic Data Processing, Inc. $ADP

Matrix Asset Advisors Inc. NY bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the first quarter, Holdings Channel reports. The fund bought 13,591 shares of the business services provider’s stock, valued at approximately $2,761,000.

Several other institutional investors and hedge funds have also bought and sold shares of ADP. Patriot Financial Group Insurance Agency LLC boosted its holdings in Automatic Data Processing by 122.0% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 3,530 shares of the business services provider’s stock valued at $717,000 after purchasing an additional 1,940 shares during the period. MeadowBrook Investment Advisors LLC increased its holdings in shares of Automatic Data Processing by 2.1% in the first quarter. MeadowBrook Investment Advisors LLC now owns 6,969 shares of the business services provider’s stock worth $1,416,000 after purchasing an additional 140 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Automatic Data Processing by 14.3% in the first quarter. Janney Montgomery Scott LLC now owns 282,028 shares of the business services provider’s stock worth $57,303,000 after purchasing an additional 35,309 shares during the period. Caldwell Trust Co raised its position in shares of Automatic Data Processing by 6.3% in the first quarter. Caldwell Trust Co now owns 7,819 shares of the business services provider’s stock worth $1,589,000 after buying an additional 465 shares in the last quarter. Finally, Cornerstone Wealth Group LLC raised its position in shares of Automatic Data Processing by 2.4% in the first quarter. Cornerstone Wealth Group LLC now owns 31,604 shares of the business services provider’s stock worth $6,411,000 after buying an additional 734 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ADP. TD Cowen upgraded Automatic Data Processing to a “hold” rating in a research report on Monday, May 18th. Wells Fargo & Company raised Automatic Data Processing from an “underweight” rating to an “equal weight” rating and set a $214.00 price target on the stock in a report on Monday, May 18th. Argus dropped their price target 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. Citigroup cut their price objective on Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Finally, Stifel Nicolaus decreased their price objective on shares of Automatic Data Processing from $270.00 to $240.00 in a research report on Thursday, April 30th. One equities research 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 issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $244.29.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $223.55 on Monday. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $315.98. The company has a fifty day moving average of $216.71 and a 200-day moving average of $226.55. The company has a market capitalization of $89.36 billion, a P/E ratio of 20.85 and a beta of 0.84. 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 (NASDAQ:ADP) last released its earnings results 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. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the prior year, the firm earned $3.06 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 11.08 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, June 12th. This represents a $6.80 annualized dividend and a dividend yield of 3.0%. Automatic Data Processing’s dividend payout ratio is 63.43%.

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.