Penobscot Investment Management Company Inc. Has $8.76 Million Position in Automatic Data Processing, Inc. $ADP

Penobscot Investment Management Company Inc. lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,112 shares of the business services provider’s stock after selling 2,668 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Automatic Data Processing were worth $8,759,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ADP. Northwestern Mutual Wealth Management Co. raised its position in shares of Automatic Data Processing by 6,493.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock valued at $892,120,000 after purchasing an additional 3,415,576 shares during the period. Cardano Risk Management B.V. grew its stake in Automatic Data Processing by 950.1% in the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock valued at $916,557,000 after buying an additional 3,223,855 shares during the last quarter. Norges Bank bought a new position in Automatic Data Processing in the 4th quarter valued at about $721,738,000. Wellington Management Group LLP raised its holdings in Automatic Data Processing by 47.8% in the 3rd quarter. Wellington Management Group LLP now owns 6,830,294 shares of the business services provider’s stock valued at $2,004,691,000 after acquiring an additional 2,208,927 shares during the period. Finally, Clearbridge Investments LLC lifted its position in Automatic Data Processing by 133.3% during the fourth quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider’s stock worth $434,151,000 after acquiring an additional 964,405 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ADP shares. Mizuho decreased their target price on Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Stifel Nicolaus reduced their price target on Automatic Data Processing from $270.00 to $240.00 in a research note on Thursday, April 30th. Guggenheim initiated coverage on Automatic Data Processing in a research report on Thursday, March 19th. They set a “buy” rating and a $270.00 price objective on the stock. BMO Capital Markets reduced their target price on shares of Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating for the company in a research report on Tuesday, April 7th. Finally, TD Cowen raised their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday. One equities research 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $244.79.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $245.60 on Wednesday. The business has a fifty day simple moving average of $221.74 and a 200 day simple moving average of $225.24. The company has a market cap of $98.17 billion, a P/E ratio of 22.91 and a beta of 0.83. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $315.98.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, topping the consensus estimate of $3.30 by $0.07. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.85 billion. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 11.08 EPS for the current fiscal year.

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.