Osborne Partners Capital Management LLC Cuts Position in Automatic Data Processing, Inc. $ADP

Osborne Partners Capital Management LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 43,557 shares of the business services provider’s stock after selling 7,630 shares during the period. Osborne Partners Capital Management LLC’s holdings in Automatic Data Processing were worth $8,850,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Imprint Wealth LLC bought a new stake in shares of Automatic Data Processing in the third quarter valued at approximately $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter valued at approximately $26,000. Bard Associates Inc. bought a new position in Automatic Data Processing in the 4th quarter worth approximately $28,000. Board of the Pension Protection Fund purchased a new position in Automatic Data Processing in the 4th quarter valued at approximately $31,000. Finally, Prosperity Bancshares Inc purchased a new position in Automatic Data Processing in the 4th quarter valued at approximately $33,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADP has been the topic of several recent research reports. TD Cowen upgraded Automatic Data Processing to a “hold” rating in a research report on Monday, May 18th. Morgan Stanley dropped their price objective on Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 28th. Stifel Nicolaus cut their target price on Automatic Data Processing from $270.00 to $240.00 in a research note on Thursday, April 30th. Citigroup reduced their target price 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, Robert W. Baird decreased their price target on Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $244.29.

Automatic Data Processing Stock Performance

Shares of ADP opened at $242.27 on Friday. The firm’s 50 day simple moving average is $219.94 and its 200 day simple moving average is $225.81. The company has a market capitalization of $96.84 billion, a P/E ratio of 22.60 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $315.98.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.07. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same period in the previous year, the business posted $3.06 earnings per share. Automatic Data Processing’s revenue for the quarter 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. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, June 12th. Automatic Data Processing’s payout ratio is currently 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.