Nissay Asset Management Corp Japan Purchases 6,118 Shares of Automatic Data Processing, Inc. $ADP

Nissay Asset Management Corp Japan lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 120,634 shares of the business services provider’s stock after buying an additional 6,118 shares during the period. Nissay Asset Management Corp Japan’s holdings in Automatic Data Processing were worth $27,016,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Navellier & Associates Inc. lifted its position in Automatic Data Processing by 33.8% during the second quarter. Navellier & Associates Inc. now owns 2,429 shares of the business services provider’s stock valued at $544,000 after acquiring an additional 613 shares during the last quarter. Field & Main Bank acquired a new stake in Automatic Data Processing in the second quarter valued at approximately $165,000. Prosperitas Financial LLC purchased a new position in Automatic Data Processing in the second quarter worth $226,000. Archer Investment Corp purchased a new position in Automatic Data Processing in the second quarter worth $144,000. Finally, Kingsview Wealth Management LLC acquired a new position in shares of Automatic Data Processing during the second quarter worth $6,576,000. Institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 798 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $223,440.00. Following the completion of the transaction, the vice president directly owned 13,193 shares in the company, valued at approximately $3,694,040. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $279.70, for a total transaction of $33,564.00. Following the transaction, the vice president directly owned 18,442 shares in the company, valued at approximately $5,158,227.40. The trade was a 0.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,332 shares of company stock worth $898,211 in the last three months. 0.20% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Up 1.0%

ADP opened at $287.48 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $305.31. The company has a fifty day moving average of $256.03 and a two-hundred day moving average of $227.97. The stock has a market capitalization of $114.20 billion, a price-to-earnings ratio of 26.28 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, beating the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period last year, the company earned $2.26 earnings per share. Automatic Data Processing’s quarterly 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, research analysts expect 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 announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a report on Thursday, July 30th. Citigroup boosted their target price on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Cantor Fitzgerald upped their target price on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. BMO Capital Markets increased their price target on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Company 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.