Norinchukin Bank The cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 79.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,775 shares of the business services provider’s stock after selling 156,704 shares during the period. Norinchukin Bank The’s holdings in Automatic Data Processing were worth $7,496,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Almanack Investment Partners LLC. boosted its holdings in Automatic Data Processing by 20.2% in the 4th quarter. Almanack Investment Partners LLC. now owns 2,892 shares of the business services provider’s stock worth $512,000 after buying an additional 487 shares during the period. Baker Tilly Financial LLC bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $436,000. Community Financial Services Group LLC grew its position in shares of Automatic Data Processing by 7.8% during the fourth quarter. Community Financial Services Group LLC now owns 3,141 shares of the business services provider’s stock worth $553,000 after purchasing an additional 228 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Automatic Data Processing by 45.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 37,438 shares of the business services provider’s stock valued at $6,597,000 after purchasing an additional 11,666 shares during the period. Finally, Maryland State Retirement & Pension System purchased a new position in Automatic Data Processing in the 4th quarter worth approximately $1,170,000. 79.29% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on ADP shares. Mizuho lifted their price objective on shares of Automatic Data Processing from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, May 27th. They noted that the move was a valuation call. Citigroup boosted their price target on shares of Automatic Data Processing from $190.00 to $212.00 in a research note on Monday, May 3rd. Barclays lifted their target price on Automatic Data Processing from $197.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, May 3rd. Jefferies Financial Group increased their price target on Automatic Data Processing from $197.00 to $200.00 and gave the company a “hold” rating in a research note on Wednesday, March 24th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on Automatic Data Processing from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Monday, May 3rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $177.81.
Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Tuesday, April 27th. The business services provider reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.07. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.08 billion. Automatic Data Processing had a net margin of 16.88% and a return on equity of 44.23%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company posted $1.92 earnings per share. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 5.95 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Friday, June 11th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Thursday, June 10th. Automatic Data Processing’s payout ratio is 62.84%.
In other news, VP Deborah L. Dyson sold 500 shares of Automatic Data Processing stock in a transaction on Monday, April 12th. The stock was sold at an average price of $188.72, for a total value of $94,360.00. Following the transaction, the vice president now directly owns 24,686 shares in the company, valued at approximately $4,658,741.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Sreenivasa Kutam sold 4,583 shares of the business’s stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $200.00, for a total value of $916,600.00. Following the completion of the transaction, the vice president now directly owns 5,041 shares of the company’s stock, valued at $1,008,200. The disclosure for this sale can be found here. Insiders sold 6,975 shares of company stock valued at $1,374,522 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.
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