Automatic Data Processing, Inc. $ADP Shares Sold by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.7% during the 1st quarter, HoldingsChannel reports. The firm owned 44,857 shares of the business services provider’s stock after selling 3,719 shares during the period. Pittenger & Anderson Inc.’s holdings in Automatic Data Processing were worth $9,114,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Automatic Data Processing by 6,493.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after buying an additional 3,415,576 shares during the last quarter. Cardano Risk Management B.V. lifted its position 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 period. Norges Bank purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $721,738,000. Wellington Management Group LLP increased its holdings in shares of Automatic Data Processing by 47.8% in the third quarter. Wellington Management Group LLP now owns 6,830,294 shares of the business services provider’s stock valued at $2,004,691,000 after purchasing an additional 2,208,927 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in shares of 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. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of ADP traded up $0.64 during mid-day trading on Friday, hitting $241.92. The company’s stock had a trading volume of 1,243,041 shares, compared to its average volume of 2,717,334. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $315.98. The firm has a market capitalization of $96.70 billion, a P/E ratio of 22.57 and a beta of 0.83. The firm has a 50-day simple moving average of $224.00 and a 200 day simple moving average of $225.10.

Automatic Data Processing (NASDAQ:ADP) last announced 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 firm 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%.Automatic Data Processing’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Analysts predict that Automatic Data Processing, Inc. will post 11.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ADP shares. Robert W. Baird decreased their price target on Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Guggenheim began coverage on shares of Automatic Data Processing in a research note on Thursday, March 19th. They issued a “buy” rating and a $270.00 price objective on the stock. Morgan Stanley cut their price objective on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 28th. Cantor Fitzgerald lowered their target price on shares of Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Finally, Citigroup dropped their price target on shares of Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $248.64.

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.