Asset Management One Co. Ltd. Has $44.91 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Asset Management One Co. Ltd. raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% in the third quarter, Holdings Channel.com reports. The firm owned 162,287 shares of the business services provider’s stock after acquiring an additional 3,887 shares during the period. Asset Management One Co. Ltd.’s holdings in Automatic Data Processing were worth $44,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Automatic Data Processing by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock valued at $9,932,020,000 after acquiring an additional 173,298 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Automatic Data Processing by 12.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock worth $964,989,000 after acquiring an additional 435,093 shares during the last quarter. Capital Research Global Investors boosted its stake in Automatic Data Processing by 2.3% during the 1st quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock worth $905,354,000 after acquiring an additional 81,869 shares during the last quarter. Legal & General Group Plc lifted its stake in Automatic Data Processing by 4.1% in the second quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock valued at $846,912,000 after buying an additional 139,561 shares in the last quarter. Finally, Ninety One UK Ltd lifted its stake in Automatic Data Processing by 0.4% in the second quarter. Ninety One UK Ltd now owns 2,556,377 shares of the business services provider’s stock valued at $610,182,000 after buying an additional 9,464 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Citigroup boosted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Barclays upped their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Stifel Nicolaus upped their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Stock Up 0.6 %

Shares of ADP opened at $289.86 on Tuesday. The business’s 50 day moving average is $281.94 and its 200 day moving average is $260.46. The company has a market capitalization of $118.21 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 3.32 and a beta of 0.78. Automatic Data Processing, Inc. has a 12-month low of $218.63 and a 12-month high of $294.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 EPS. Research analysts expect that Automatic Data Processing, Inc. will post 9.97 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $1.40 dividend. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.93%. Automatic Data Processing’s payout ratio is 59.77%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares of the company’s stock, valued at $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,817 shares of company stock worth $15,999,208. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management 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.