Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.1% in the first quarter, HoldingsChannel reports. The firm owned 175,475 shares of the business services provider’s stock after acquiring an additional 11,641 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Automatic Data Processing were worth $53,613,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Toronto Dominion Bank lifted its holdings in shares of Automatic Data Processing by 10.2% during the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock worth $69,290,000 after purchasing an additional 21,910 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of Automatic Data Processing by 42.8% during the fourth quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider’s stock worth $1,090,000 after purchasing an additional 1,117 shares during the period. Napatree Capital LLC lifted its holdings in shares of Automatic Data Processing by 2.7% during the fourth quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider’s stock worth $936,000 after purchasing an additional 84 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Automatic Data Processing by 8.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider’s stock worth $76,638,000 after purchasing an additional 20,467 shares during the period. Finally, Brighton Jones LLC lifted its holdings in shares of Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after purchasing an additional 4,808 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 1.3%

Shares of ADP stock opened at $310.24 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $125.93 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 3.18 and a beta of 0.79. The stock has a 50 day simple moving average of $309.78 and a 200-day simple moving average of $302.99. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.88 EPS. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

Analyst Ratings Changes

ADP has been the subject of a number of research reports. Morgan Stanley lifted their target price on Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 17th. TD Securities boosted their price target on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a report on Wednesday, May 21st. Mizuho boosted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Stifel Nicolaus boosted their price target on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $307.08.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher D’ambrosio sold 478 shares of the business’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president now owns 7,364 shares of the company’s stock, valued at $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

About Automatic Data Processing

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.