131,236 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 131,236 shares of the business services provider’s stock, valued at approximately $38,497,000.

Other institutional investors have also recently made changes to their positions in the company. Dunhill Financial LLC boosted its stake in Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares during the period. Cyrus J. Lawrence LLC boosted its position in shares of Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 67 shares during the period. Sugar Maple Asset Management LLC purchased a new position in Automatic Data Processing during the fourth quarter valued at approximately $37,000. Wingate Wealth Advisors Inc. bought a new stake in Automatic Data Processing during the 4th quarter worth approximately $37,000. Finally, HHM Wealth Advisors LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP opened at $286.13 on Friday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The company has a market cap of $116.59 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74. 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 stock has a fifty day simple moving average of $304.41 and a two-hundred day simple moving average of $297.03.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly 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 return on equity of 80.86% and a net margin of 19.76%. Research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Insider Buying and Selling at Automatic Data Processing

In related news, VP David Foskett sold 1,004 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $289.29, for a total transaction of $290,447.16. Following the completion of the sale, the vice president now owns 5,958 shares in the company, valued at approximately $1,723,589.82. This represents a 14.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,368 shares of company stock worth $1,903,541. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.