Norinchukin Bank The Acquires 3,198 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Norinchukin Bank The grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,150 shares of the business services provider’s stock after acquiring an additional 3,198 shares during the quarter. Norinchukin Bank The’s holdings in Automatic Data Processing were worth $7,362,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Automatic Data Processing in the fourth quarter worth $455,993,000. Winslow Capital Management LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at $396,714,000. Capital Research Global Investors increased its holdings in Automatic Data Processing by 26.9% in the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock worth $1,796,415,000 after buying an additional 1,299,390 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Automatic Data Processing in the 4th quarter worth about $342,942,000. Finally, Proficio Capital Partners LLC lifted its stake in Automatic Data Processing by 41,710.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after acquiring an additional 1,087,814 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Activity

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 value of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. This represents a 11.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,775 shares of company stock worth $1,447,893 over the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Trading Down 0.3 %

NASDAQ:ADP opened at $293.28 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a 50-day simple moving average of $301.27 and a 200-day simple moving average of $298.11. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84. The firm has a market cap of $119.50 billion, a P/E ratio of 30.58, a P/E/G ratio of 3.62 and a beta of 0.74.

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

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.10%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

Analyst Upgrades and Downgrades

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

Automatic Data Processing 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.