Automatic Data Processing, Inc. (NASDAQ:ADP) has been experiencing significant activities with an array of investment firms altering their holdings. While Empowered Funds LLC, KBC Group NV, and KCM Investment Advisors LLC notably reduced their holdings, ING Groep NV, CIBC Asset Management Inc, Ferguson Wellman Capital Management Inc, and Sheets Smith Wealth Management increased their stake in ADP. Additionally, RIA Advisory Group LLC made a fresh investment of $470,000. Updates reveal improvements in ADP's streamlined
W-2 distribution, along with the
WorkForce Software acquisition enhancing ADP's annual revenue growth forecast. ADP outperformed its earnings and revenue estimates for Q1, contributing to its image as a strong Dividend King. Moreover, it's considered potentially undervalued, promising for EPS growth, and an appealing option to boost retirement portfolios. Potential challenges include threats from AI and slowing earnings growth projection for 2025. ADP has announced plans for a
dividend increase, with investors feeling optimistic as price targets have been lifted to $310.00. Further, ADP's Q4 earnings exceeded expectations on the back of steady payroll demand.
Automatic Data Processing ADP News Analytics from Mon, 08 Apr 2024 07:00:00 GMT to Sat, 16 Nov 2024 15:03:43 GMT -
Rating 7
- Innovation 3
- Information 8
- Rumor -2
