Automatic Data Processing, Inc. $ADP Shares Acquired by Nissay Asset Management Corp Japan

Nissay Asset Management Corp Japan grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,634 shares of the business services provider’s stock after acquiring an additional 6,118 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Automatic Data Processing were worth $27,016,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ADP. BlackRock Inc. purchased a new position in Automatic Data Processing in the 2nd quarter valued at $8,097,229,000. State Street Corp grew its holdings in shares of Automatic Data Processing by 0.7% during the fourth quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock worth $4,903,769,000 after buying an additional 133,039 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Automatic Data Processing by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock worth $2,977,777,000 after buying an additional 136,876 shares in the last quarter. Capital Research Global Investors raised its position in shares of Automatic Data Processing by 4.6% in the fourth quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock valued at $2,159,088,000 after buying an additional 372,413 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Automatic Data Processing by 8.0% in the fourth 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. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 1.0%

Shares of ADP opened at $287.48 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $305.31. The firm has a 50-day moving average price of $256.03 and a 200 day moving average price of $227.97. The firm has a market capitalization of $114.20 billion, a P/E ratio of 26.28 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. Automatic Data Processing’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a dividend of $1.70 per share. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.16%.

Analyst Ratings Changes

A number of research firms recently weighed in on ADP. Guggenheim boosted their price target on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Morgan Stanley increased their price objective on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Wells Fargo & Company boosted their target price on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Argus dropped their price target on 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. Finally, TD Cowen increased their price target on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $273.50.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 120 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the transaction, the vice president directly owned 18,442 shares in the company, valued at approximately $5,158,227.40. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $280.00, for a total value of $223,440.00. Following the sale, the vice president directly owned 13,193 shares of the company’s stock, valued at approximately $3,694,040. This trade represents a 5.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 3,332 shares of company stock worth $898,211. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Profile

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.