Sterling Capital Management LLC Has $40.84 Million Stock Position in Automatic Data Processing, Inc. $ADP

Sterling Capital Management LLC lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.7% during the first quarter, HoldingsChannel.com reports. The firm owned 201,016 shares of the business services provider’s stock after selling 31,818 shares during the quarter. Automatic Data Processing makes up approximately 0.8% of Sterling Capital Management LLC’s holdings, making the stock its 29th largest holding. Sterling Capital Management LLC’s holdings in Automatic Data Processing were worth $40,842,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Hilltop Holdings Inc. acquired a new position in shares of Automatic Data Processing during the 3rd quarter valued at about $5,292,000. Jefferies Financial Group Inc. acquired a new stake in Automatic Data Processing in the 3rd quarter worth approximately $2,794,000. Horizon Investments LLC lifted its holdings in Automatic Data Processing by 34.1% in the 4th quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock worth $6,725,000 after purchasing an additional 6,655 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its position in Automatic Data Processing by 181.5% during the third quarter. Elevation Point Wealth Partners LLC now owns 16,789 shares of the business services provider’s stock worth $4,950,000 after purchasing an additional 10,824 shares during the period. Finally, Compass Capital Management Inc. boosted its position in Automatic Data Processing by 3.0% during the fourth quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock worth $52,400,000 after purchasing an additional 5,899 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

ADP opened at $223.55 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average price is $216.71 and its two-hundred day moving average price is $226.78. The firm has a market capitalization of $89.36 billion, a P/E ratio of 20.85 and a beta of 0.84. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $315.98.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.07. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The company 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 company earned $3.06 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, June 12th. Automatic Data Processing’s dividend payout ratio is presently 63.43%.

Analysts Set New Price Targets

ADP has been the topic of a number of recent analyst reports. UBS Group lifted their price target on shares of Automatic Data Processing from $210.00 to $218.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Wells Fargo & Company raised shares of Automatic Data Processing from an “underweight” rating to an “equal weight” rating and set a $214.00 price objective for the company in a report on Monday, May 18th. 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 research note on Wednesday, April 29th. Stifel Nicolaus dropped their target price on shares of Automatic Data Processing from $270.00 to $240.00 in a report on Thursday, April 30th. Finally, Morgan Stanley cut their target price 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. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $244.29.

About Automatic Data Processing

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.