Oslo Pensjonsforsikring AS Invests $535,000 in Automatic Data Processing, Inc. $ADP

Oslo Pensjonsforsikring AS bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the first quarter, according to its most recent filing with the SEC. The firm bought 2,634 shares of the business services provider’s stock, valued at approximately $535,000.

Several other hedge funds have also bought and sold shares of ADP. Imprint Wealth LLC bought a new stake in Automatic Data Processing during the 3rd quarter valued at $25,000. Cornerstone Financial Management LLC bought a new position in shares of Automatic Data Processing in the fourth quarter valued at $26,000. Bard Associates Inc. bought a new position in shares of Automatic Data Processing in the fourth quarter valued at $28,000. Whipplewood Advisors LLC grew its holdings in shares of Automatic Data Processing by 2,740.0% during 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 during the last quarter. Finally, Prosperity Bancshares Inc acquired a new position in shares of Automatic Data Processing during the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 3.5%

NASDAQ:ADP opened at $246.22 on Wednesday. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $315.98. The firm has a 50-day moving average price of $229.52 and a two-hundred day moving average price of $224.51. 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 firm has a market cap of $98.42 billion, a price-to-earnings ratio of 22.97 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results 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 firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate 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 was up 7.0% compared to the same quarter last year. During the same quarter 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. On average, equities analysts expect that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ADP has been the subject of several recent research reports. TD Cowen boosted their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. 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 report on Tuesday, April 28th. Jefferies Financial Group cut their price target on Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Citigroup decreased 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, Wells Fargo & Company increased their price objective on Automatic Data Processing from $214.00 to $248.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus 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.