Automatic Data Processing shares rose 3.0% this afternoon to a price of $245.7. The stock is still trading within range of its average target price of $250.6, and over the last 52 weeks, it has recorded a 5.2% performance. Analysts have given the large-cap Data Processing Services stock target prices ranging from $227.0 to $280.0 dollars per share, with an average rating of hold.
The stock has a very low short interest at 0.9%, and a short ratio of 2.2. The company's insiders own 0.11% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 83.2% of Automatic Data Processing's shares being owned by this investor type.
Institutions Invested in Automatic Data Processing
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-09-30 | Vanguard Group Inc | 10% | 39,183,708 | $9,627,436,936 |
| 2023-09-30 | Blackrock Inc. | 8% | 33,431,260 | $8,214,060,479 |
| 2023-09-30 | State Street Corporation | 4% | 17,990,318 | $4,420,221,077 |
| 2023-09-30 | Morgan Stanley | 3% | 10,802,211 | $2,654,103,209 |
| 2023-09-30 | Geode Capital Management, LLC | 2% | 9,531,381 | $2,341,860,282 |
| 2023-12-31 | Bank Of New York Mellon Corporation | 2% | 8,833,492 | $2,170,388,957 |
| 2023-09-30 | Charles Schwab Investment Management, Inc. | 2% | 8,670,083 | $2,130,239,366 |
| 2023-09-30 | Alliancebernstein L.P. | 2% | 8,577,917 | $2,107,594,180 |
| 2023-09-30 | Wells Fargo & Company | 2% | 8,084,668 | $1,986,402,902 |
| 2023-09-30 | Bank of America Corporation | 1% | 5,937,248 | $1,458,781,815 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Automatic Data Processing.
