Meiji Yasuda Asset Management Co Ltd. Invests $9.42 Million in Automatic Data Processing, Inc. $ADP

Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 42,048 shares of the business services provider’s stock, valued at approximately $9,417,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Imprint Wealth LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $25,000. Cornerstone Financial Management LLC bought a new position in shares of Automatic Data Processing in the 4th quarter valued at $26,000. Bard Associates Inc. acquired a new position in shares of Automatic Data Processing during the 4th quarter worth $28,000. Prosperity Bancshares Inc acquired a new position in shares of Automatic Data Processing during the 4th quarter worth $33,000. Finally, High Point Wealth Management LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter worth $34,000. 80.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ADP. Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Robert W. Baird lowered their target price on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Jefferies Financial Group dropped their target price on shares of Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. UBS Group raised their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Finally, Citigroup lifted their price target on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $273.50.

Insider Activity at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the transaction, the vice president owned 9,660 shares in the company, valued at approximately $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $280.81 on Monday. The business has a 50 day moving average of $249.66 and a 200-day moving average of $226.17. The company has a market capitalization of $111.56 billion, a P/E ratio of 25.67 and a beta of 0.81. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $308.89. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period last year, the company earned $2.26 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 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.