Praxis Investment Management Inc. Grows Stake in Automatic Data Processing, Inc. $ADP

Praxis Investment Management Inc. increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 23.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,197 shares of the business services provider’s stock after purchasing an additional 2,538 shares during the quarter. Praxis Investment Management Inc.’s holdings in Automatic Data Processing were worth $2,681,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Imprint Wealth LLC acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth $25,000. Cornerstone Financial Management LLC purchased a new position in Automatic Data Processing during the 4th quarter valued at about $26,000. Bard Associates Inc. acquired a new position in Automatic Data Processing during the fourth quarter worth about $28,000. Board of the Pension Protection Fund purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $31,000. Finally, Prosperity Bancshares Inc purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the subject of a number of recent research reports. TD Cowen raised shares of Automatic Data Processing to a “hold” rating in a research note on Monday, May 18th. Guggenheim started coverage on Automatic Data Processing in a report on Thursday, March 19th. They set a “buy” rating and a $270.00 target price on the stock. Wells Fargo & Company upgraded Automatic Data Processing from an “underweight” rating to an “equal weight” rating and set a $214.00 target price on the stock in a report on Monday, May 18th. Citigroup cut their price target 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, Jefferies Financial Group reduced their price objective on Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. One equities 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 issued a Sell rating to the company. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $244.29.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $242.27 on Friday. The company has a 50-day simple moving average of $219.94 and a 200-day simple moving average of $225.81. 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 cap of $96.84 billion, a PE ratio of 22.60 and a beta of 0.83. 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 announced its quarterly earnings data 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. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.85 billion. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were paid 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 dividend payout ratio is currently 63.43%.

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.