Janus Henderson Group PLC Grows Holdings in Automatic Data Processing, Inc. $ADP

Janus Henderson Group PLC grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.7% in the first quarter, HoldingsChannel reports. The fund owned 53,557 shares of the business services provider’s stock after acquiring an additional 1,930 shares during the quarter. Janus Henderson Group PLC’s holdings in Automatic Data Processing were worth $10,882,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 purchasing an additional 3,415,576 shares in the last quarter. Cardano Risk Management B.V. boosted its position in Automatic Data Processing by 950.1% during the fourth quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock worth $916,557,000 after purchasing an additional 3,223,855 shares in the last quarter. Norges Bank acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $721,738,000. Clearbridge Investments LLC grew its holdings in Automatic Data Processing by 133.3% in the fourth quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider’s stock valued at $434,151,000 after purchasing an additional 964,405 shares during the period. Finally, Amundi increased its position in shares of Automatic Data Processing by 27.7% in the first quarter. Amundi now owns 3,034,002 shares of the business services provider’s stock valued at $616,449,000 after buying an additional 658,932 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. BMO Capital Markets upped their target price on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. UBS Group boosted their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Mizuho reduced their price objective on shares of Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Argus decreased their price objective on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $273.50.

Insider Transactions at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the sale, the vice president owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $270.62 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.04. The stock’s 50 day simple moving average is $237.82 and its 200-day simple moving average is $224.50. The company has a market cap of $108.17 billion, a PE ratio of 24.74 and a beta of 0.81. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $310.08.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The firm had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same period in the previous year, the business earned $2.26 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 12.3 EPS for the current fiscal year.

Automatic Data Processing Company 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.