Meiji Yasuda Life Insurance Co lessened its holdings in Automatic Data Processing (NASDAQ:ADP) by 20.6% in the 1st quarter, HoldingsChannel reports. The firm owned 4,351 shares of the business services provider’s stock after selling 1,130 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Automatic Data Processing were worth $695,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Horan Capital Advisors LLC. acquired a new stake in shares of Automatic Data Processing during the first quarter worth approximately $31,000. Lake Point Wealth Management acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth approximately $26,000. AlphaMark Advisors LLC increased its holdings in shares of Automatic Data Processing by 319.1% during the fourth quarter. AlphaMark Advisors LLC now owns 197 shares of the business services provider’s stock worth $26,000 after buying an additional 150 shares in the last quarter. Paragon Capital Management LLC acquired a new stake in shares of Automatic Data Processing during the first quarter worth approximately $32,000. Finally, C J Advisory Inc acquired a new stake in shares of Automatic Data Processing during the first quarter worth approximately $32,000. 79.79% of the stock is owned by institutional investors.

In other Automatic Data Processing news, insider Jan Siegmund sold 27,272 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $165.00, for a total value of $4,499,880.00. Following the transaction, the insider now directly owns 77,595 shares of the company’s stock, valued at $12,803,175. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Donald Weinstein sold 1,706 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $165.01, for a total transaction of $281,507.06. Following the completion of the transaction, the vice president now directly owns 26,220 shares in the company, valued at $4,326,562.20. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

ADP has been the topic of several research analyst reports. BidaskClub cut shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 11th. Citigroup increased their price target on shares of Automatic Data Processing from $147.00 to $162.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Sanford C. Bernstein cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Barclays increased their price target on shares of Automatic Data Processing from $168.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Automatic Data Processing has a consensus rating of “Buy” and a consensus target price of $166.89.

ADP opened at $165.54 on Friday. Automatic Data Processing has a one year low of $121.40 and a one year high of $168.87. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.38. The company has a market cap of $72.05 billion, a PE ratio of 38.06, a P/E/G ratio of 2.34 and a beta of 0.92.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.08. Automatic Data Processing had a net margin of 13.76% and a return on equity of 50.53%. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period last year, the firm earned $1.57 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities analysts anticipate that Automatic Data Processing will post 5.44 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.79 dividend. The ex-dividend date is Thursday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 1.91%. Automatic Data Processing’s payout ratio is presently 72.64%.

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Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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