Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Automatic Data Processing, Inc. $ADP

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 32.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,273,700 shares of the business services provider’s stock after acquiring an additional 796,379 shares during the quarter. Automatic Data Processing accounts for about 0.7% of Mitsubishi UFJ Asset Management Co. Ltd.’s investment portfolio, making the stock its 21st largest holding. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.81% of Automatic Data Processing worth $960,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AlphaCore Capital LLC grew its position in shares of Automatic Data Processing by 18.0% in the 3rd quarter. AlphaCore Capital LLC now owns 2,903 shares of the business services provider’s stock worth $857,000 after buying an additional 443 shares during the last quarter. Intech Investment Management LLC lifted its stake in Automatic Data Processing by 12.6% in the third quarter. Intech Investment Management LLC now owns 20,112 shares of the business services provider’s stock worth $5,903,000 after acquiring an additional 2,253 shares during the period. Empirical Asset Management LLC boosted its holdings in Automatic Data Processing by 129.5% in the third quarter. Empirical Asset Management LLC now owns 11,009 shares of the business services provider’s stock valued at $3,231,000 after acquiring an additional 6,212 shares in the last quarter. RWA Wealth Partners LLC increased its position in Automatic Data Processing by 0.8% during the 3rd quarter. RWA Wealth Partners LLC now owns 33,999 shares of the business services provider’s stock valued at $9,979,000 after purchasing an additional 272 shares during the period. Finally, KDT Advisors LLC increased its position in Automatic Data Processing by 17.0% during the 3rd quarter. KDT Advisors LLC now owns 2,547 shares of the business services provider’s stock valued at $748,000 after purchasing an additional 370 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In related news, VP Brian L. Michaud sold 1,000 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $234.18, for a total transaction of $234,180.00. Following the completion of the transaction, the vice president directly owned 15,310 shares of the company’s stock, valued at approximately $3,585,295.80. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP David Kwon sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $260.00, for a total value of $234,000.00. Following the transaction, the vice president owned 11,993 shares of the company’s stock, valued at $3,118,180. This represents a 6.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 3,515 shares of company stock valued at $887,074. 0.20% of the stock is owned by company insiders.

Automatic Data Processing Stock Up 4.2%

ADP stock opened at $214.25 on Thursday. The company has a market cap of $86.27 billion, a price-to-earnings ratio of 20.60 and a beta of 0.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03. The business’s 50-day moving average is $244.53 and its two-hundred day moving average is $267.28. Automatic Data Processing, Inc. has a fifty-two week low of $203.26 and a fifty-two week high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 28th. The business services provider reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.05. Automatic Data Processing had a return on equity of 68.44% and a net margin of 19.96%.The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the previous year, the company posted $2.35 EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing announced that its Board of Directors has initiated a share buyback program on Wednesday, January 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the business services provider to repurchase up to 5.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, March 13th. Automatic Data Processing’s payout ratio is presently 65.38%.

Analysts Set New Price Targets

ADP has been the subject of a number of research reports. Morgan Stanley decreased their price target on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating for the company in a research note on Thursday, January 29th. Stifel Nicolaus decreased their target price on Automatic Data Processing from $280.00 to $270.00 and set a “hold” rating for the company in a research report on Monday, February 9th. Wells Fargo & Company dropped their price target on Automatic Data Processing from $272.00 to $262.00 and set an “underweight” rating on the stock in a research report on Thursday, January 29th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $230.00 price target (down from $245.00) on shares of Automatic Data Processing in a research note on Tuesday, December 16th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Automatic Data Processing in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $290.00.

About Automatic Data Processing

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.