Nomura Asset Management Co. Ltd. Has $79.70 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Nomura Asset Management Co. Ltd. cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,251 shares of the business services provider’s stock after selling 8,710 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Automatic Data Processing were worth $79,696,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in Automatic Data Processing during the third quarter worth approximately $26,000. Dunhill Financial LLC lifted its position in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after buying an additional 149 shares during the last quarter. Cyrus J. Lawrence LLC increased its holdings in shares of Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after acquiring an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC bought a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Automatic Data Processing during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on ADP shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. UBS Group increased their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Jefferies Financial Group increased their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, Barclays lifted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $302.30.

Insider Buying and Selling

In related news, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,951 shares of company stock worth $1,762,074 in the last ninety days. 0.21% of the stock is owned by insiders.

Automatic Data Processing Price Performance

ADP stock opened at $305.43 on Friday. The company’s 50-day moving average price is $303.77 and its two-hundred day moving average price is $296.02. The firm has a market cap of $124.45 billion, a P/E ratio of 31.85, a P/E/G ratio of 3.62 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.02%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

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.