Meiji Yasuda Asset Management Co Ltd. Takes Position in Automatic Data Processing, Inc. $ADP

Meiji Yasuda Asset Management Co Ltd. bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 42,048 shares of the business services provider’s stock, valued at approximately $9,417,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elefante Mark B bought a new stake in Automatic Data Processing in the 2nd quarter valued at $5,802,000. True Freedom Investing LLC bought a new position in Automatic Data Processing during the second quarter worth $4,282,000. Haverford Trust Co bought a new position in Automatic Data Processing during the second quarter worth $27,298,000. First Nebraska Trust Co bought a new position in Automatic Data Processing during the second quarter worth $561,000. Finally, Bank of Nova Scotia acquired a new position in shares of Automatic Data Processing in the second quarter valued at $78,900,000. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ADP shares. Citigroup increased their price objective on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Weiss Ratings raised shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Wells Fargo & Company raised their price objective on shares of Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Robert W. Baird reduced their price objective on Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Finally, Stifel Nicolaus upped their target price on Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $273.50.

Insiders Place Their Bets

In other news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the sale, the vice president directly owned 9,660 shares in the company, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of ADP opened at $280.81 on Monday. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $308.89. The firm’s 50 day moving average is $249.66 and its 200-day moving average is $226.17. The stock has a market capitalization of $111.56 billion, a PE ratio of 25.67 and a beta of 0.81. 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 (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. The company had revenue of $5.47 billion during 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%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.4%. Automatic Data Processing’s payout ratio is currently 62.16%.

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.