Pittenger & Anderson Inc. Cuts Holdings in Automatic Data Processing, Inc. $ADP

Pittenger & Anderson Inc. lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,857 shares of the business services provider’s stock after selling 3,719 shares during the period. Pittenger & Anderson Inc.’s holdings in Automatic Data Processing were worth $9,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in ADP. Fifth Third Bancorp grew its position in shares of Automatic Data Processing by 78.4% during the first quarter. Fifth Third Bancorp now owns 528,587 shares of the business services provider’s stock worth $107,398,000 after buying an additional 232,359 shares in the last quarter. Sachetta LLC raised its holdings in Automatic Data Processing by 65.4% in the first quarter. Sachetta LLC now owns 1,500 shares of the business services provider’s stock valued at $305,000 after acquiring an additional 593 shares in the last quarter. Simplicity Wealth LLC lifted its stake in Automatic Data Processing by 11.7% in the first quarter. Simplicity Wealth LLC now owns 7,365 shares of the business services provider’s stock worth $1,496,000 after acquiring an additional 769 shares during the last quarter. Osprey Private Wealth LLC lifted its stake in Automatic Data Processing by 11.9% in the first quarter. Osprey Private Wealth LLC now owns 7,500 shares of the business services provider’s stock worth $1,524,000 after acquiring an additional 800 shares during the last quarter. Finally, Conning Inc. grew its holdings in Automatic Data Processing by 28.7% during the 1st quarter. Conning Inc. now owns 164,051 shares of the business services provider’s stock worth $33,332,000 after acquiring an additional 36,630 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

ADP traded up $0.64 on Friday, reaching $241.92. The company had a trading volume of 1,243,041 shares, compared to its average volume of 2,717,334. 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 1 year low of $188.16 and a 1 year high of $315.98. The stock has a market capitalization of $96.70 billion, a PE ratio of 22.57 and a beta of 0.83. The stock has a 50-day moving average price of $224.00 and a 200-day moving average price of $225.10.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $5.85 billion. During the same quarter last year, the company posted $3.06 earnings per share. The business’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. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 11.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADP has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price objective on shares of Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 7th. UBS Group boosted their target price on shares of Automatic Data Processing from $210.00 to $218.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Automatic Data Processing in a report on Tuesday. Guggenheim assumed coverage on Automatic Data Processing in a research note on Thursday, March 19th. They issued a “buy” rating and a $270.00 price target on the stock. Finally, Mizuho decreased their price target on Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average target price 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.