Citadel Advisors Reduces $160M in Automatic Data Processing, Inc. ($ADP)
Key Points
- Citadel Advisors changed its Automatic Data Processing, Inc. ($ADP) stake by 65.1% last quarter, cutting to 382,665 shares worth $85.76 million.
- Wall Street's consensus rating on $ADP is Hold and an average price target of $246.80.
- $ADP last traded around $224.10.
Citadel Advisors reduced its position in Automatic Data Processing, Inc. ($ADP) by 65.1% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 382,665 shares of Automatic Data Processing, Inc. after selling 713,119 shares during the quarter. Citadel Advisors's holdings in Automatic Data Processing, Inc. were worth $85.76 million as of its most recent filing.
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About Automatic Data Processing, Inc.
Automatic Data Processing, Inc. provides cloud-based human capital management (HCM) solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions. This segment's offerings include RUN Powered by ADP, a software platform for small business payroll, HR, and compliance; ADP Workforce Now, a HCM solution used across mid-sized and large businesses to manage employees; and ADP Lyric HCM, a solution for HR management, payroll, workforce management, talent, and data analytics. The PEO Services segment provides HR and employment administration outsourcing solutions under ADP TotalSource name to businesses through a co-employment model. The segment also provides guidance, user-friendly technology, comprehensive employee benefits, and a risk management, safety, and workers' compensation program. The company was founded in 1949 and is headquartered in Roseland, New Jersey.
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