Nomura Asset Management Co. Ltd. Has $79.70 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Nomura Asset Management Co. Ltd. trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 272,251 shares of the business services provider’s stock after selling 8,710 shares during the period. Nomura Asset Management Co. Ltd. owned 0.07% of Automatic Data Processing worth $79,696,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ADP. Norges Bank bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $455,993,000. Caisse Des Depots ET Consignations bought a new position in Automatic Data Processing during the fourth quarter worth about $7,200,000. LM Advisors LLC acquired a new stake in Automatic Data Processing during the fourth quarter valued at approximately $981,000. Howe & Rusling Inc. bought a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $431,000. Finally, NEOS Investment Management LLC raised its holdings in shares of Automatic Data Processing by 23.2% in the 4th quarter. NEOS Investment Management LLC now owns 49,542 shares of the business services provider’s stock worth $14,502,000 after buying an additional 9,316 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 1.0 %

Shares of NASDAQ ADP opened at $305.43 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $124.45 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The firm’s 50-day moving average is $303.77 and its 200-day moving average is $296.02. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.02%. Automatic Data Processing’s dividend payout ratio is 64.23%.

Analyst Ratings Changes

A number of brokerages have weighed in on ADP. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Barclays boosted their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. UBS Group increased their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group boosted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $302.30.

Insider Activity

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares in the company, valued at approximately $2,218,112.80. This represents a 6.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,951 shares of company stock valued at $1,762,074 in the last quarter. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing 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.