Oslo Pensjonsforsikring AS Takes Position in Automatic Data Processing, Inc. $ADP

Oslo Pensjonsforsikring AS purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,634 shares of the business services provider’s stock, valued at approximately $535,000.

A number of other hedge funds also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its holdings in 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. raised its position in Automatic Data Processing by 950.1% during the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock worth $916,557,000 after purchasing an additional 3,223,855 shares during the last quarter. Norges Bank acquired a new position in Automatic Data Processing during the 4th quarter worth about $721,738,000. Clearbridge Investments LLC lifted its holdings in Automatic Data Processing by 133.3% during the 4th quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider’s stock worth $434,151,000 after buying an additional 964,405 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Automatic Data Processing by 8.0% in the 4th quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock valued at $1,896,944,000 after buying an additional 544,210 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $246.22 on Wednesday. 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. The company has a fifty day moving average of $229.52 and a 200-day moving average of $224.51. The firm has a market capitalization of $98.42 billion, a P/E ratio of 22.97 and a beta of 0.83.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ADP shares. Stifel Nicolaus increased their price target on Automatic Data Processing from $240.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, July 8th. Citigroup cut their price objective on Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Mizuho reduced their target price on Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. Robert W. Baird decreased their target price on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Finally, Argus decreased their target price on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Three 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 stock. Based on data from MarketBeat.com, Automatic Data Processing currently 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.