Asset Management One Co. Ltd. Purchases 3,887 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Asset Management One Co. Ltd. boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,287 shares of the business services provider’s stock after buying an additional 3,887 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Automatic Data Processing were worth $44,910,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ADP. TD Asset Management Inc boosted its position in shares of Automatic Data Processing by 14.2% during the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after buying an additional 99,515 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Automatic Data Processing by 70.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after acquiring an additional 264,466 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Automatic Data Processing by 195.1% during the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after buying an additional 34,118 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Automatic Data Processing by 1.7% during the 1st quarter. Toronto Dominion Bank now owns 247,474 shares of the business services provider’s stock valued at $61,804,000 after buying an additional 4,253 shares in the last quarter. Finally, Plato Investment Management Ltd grew its position in Automatic Data Processing by 23.8% during the 2nd quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock worth $6,352,000 after acquiring an additional 5,114 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP David Kwon sold 846 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, VP David Kwon sold 846 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,817 shares of company stock valued at $15,999,208. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 0.6 %

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

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results 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 for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.08 earnings per share. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.97 EPS for the current year.

Automatic Data Processing Dividend Announcement

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

Analyst Ratings Changes

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

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.