Sumitomo Mitsui Trust Group Inc. Trims Holdings in Automatic Data Processing, Inc. $ADP

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.9% in the first quarter, Holdings Channel.com reports. The firm owned 957,397 shares of the business services provider’s stock after selling 49,288 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Automatic Data Processing were worth $194,524,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Hilltop Holdings Inc. purchased a new position in shares of Automatic Data Processing in the third quarter worth $5,292,000. Horizon Investments LLC grew its holdings in Automatic Data Processing by 34.1% during the fourth quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock valued at $6,725,000 after purchasing an additional 6,655 shares during the period. Compass Capital Management Inc. lifted its position in shares of Automatic Data Processing by 3.0% during the 4th quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock valued at $52,400,000 after buying an additional 5,899 shares in the last quarter. Elevation Point Wealth Partners LLC grew its stake in shares of Automatic Data Processing by 181.5% during the 3rd quarter. Elevation Point Wealth Partners LLC now owns 16,789 shares of the business services provider’s stock valued at $4,950,000 after acquiring an additional 10,824 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. increased its holdings in Automatic Data Processing by 64.0% in the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 14,757 shares of the business services provider’s stock worth $3,796,000 after acquiring an additional 5,757 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.0%

NASDAQ ADP opened at $241.28 on Friday. The company has a market capitalization of $96.45 billion, a price-to-earnings ratio of 22.51 and a beta of 0.83. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $315.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. The company’s 50-day simple moving average is $223.47 and its two-hundred day simple moving average is $224.98.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results 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 company had revenue of $5.94 billion during 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 revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Equities analysts forecast that Automatic Data Processing, Inc. will post 11.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Automatic Data Processing in a research report on Tuesday. Wells Fargo & Company increased their target price on Automatic Data Processing from $214.00 to $248.00 and gave the company an “equal weight” rating in a research report on Thursday. TD Cowen increased their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a report on Monday. Jefferies Financial Group dropped their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Finally, Cantor Fitzgerald dropped their target price on Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $248.64.

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.