Cannell & Spears LLC Has $16.58 Million Stock Holdings in Automatic Data Processing, Inc. $ADP

Cannell & Spears LLC decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,542 shares of the business services provider’s stock after selling 3,102 shares during the period. Cannell & Spears LLC’s holdings in Automatic Data Processing were worth $16,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in 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 acquiring an additional 3,415,576 shares in the last quarter. Cardano Risk Management B.V. grew its stake in Automatic Data Processing by 950.1% in the fourth quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock valued at $916,557,000 after purchasing an additional 3,223,855 shares in the last quarter. Norges Bank acquired a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $721,738,000. Clearbridge Investments LLC increased its position in shares of Automatic Data Processing by 133.3% during the 4th quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider’s stock worth $434,151,000 after purchasing an additional 964,405 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Automatic Data Processing by 1,018.7% during the 1st quarter. Renaissance Technologies LLC now owns 646,820 shares of the business services provider’s stock worth $131,421,000 after purchasing an additional 589,000 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

ADP opened at $250.09 on Friday. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $315.98. The stock has a market cap of $99.97 billion, a price-to-earnings ratio of 23.33 and a beta of 0.83. The business has a 50 day moving average of $231.61 and a 200-day moving average of $224.52. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, topping the consensus estimate of $3.30 by $0.07. The company had revenue of $5.94 billion during 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 firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADP. 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. TD Cowen upped their price target 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. Robert W. Baird cut their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Wells Fargo & Company lifted their price objective on shares of Automatic Data Processing from $214.00 to $248.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Finally, Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $240.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $256.00.

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.