Investors Bullish on Automatic Data Processing – What You Need to Know

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.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.