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

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

Several other hedge funds have also recently bought and sold shares of ADP. Imprint Wealth LLC bought a new stake in shares of Automatic Data Processing during the third quarter worth approximately $25,000. Cornerstone Financial Management LLC bought a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $26,000. Bard Associates Inc. acquired a new stake in Automatic Data Processing during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC lifted its holdings in Automatic Data Processing by 2,740.0% during the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after purchasing an additional 137 shares during the last quarter. Finally, Prosperity Bancshares Inc bought a new stake in Automatic Data Processing in the 4th quarter valued at $33,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 3.0%

Shares of NASDAQ:ADP opened at $250.09 on Friday. The business’s 50 day simple moving average is $231.61 and its 200 day simple moving average is $224.52. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $315.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $99.97 billion, a P/E ratio of 23.33 and a beta of 0.83.

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, beating the consensus estimate of $3.30 by $0.07. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 11.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wells Fargo & Company upped their price objective on Automatic Data Processing from $214.00 to $248.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Mizuho dropped their target price on Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. UBS Group upped their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday. Robert W. Baird lowered their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Finally, Morgan Stanley dropped 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 note on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.