Daiichi Life Insurance Co. Ltd. Invests $3.97 Million in Automatic Data Processing, Inc. $ADP

Daiichi Life Insurance Co. Ltd. acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 17,738 shares of the business services provider’s stock, valued at approximately $3,972,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Automatic Data Processing in the 2nd quarter valued at about $8,097,229,000. State Street Corp boosted its position in shares of Automatic Data Processing by 0.7% during the fourth quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock worth $4,903,769,000 after buying an additional 133,039 shares during the period. Geode Capital Management LLC grew its holdings in shares of Automatic Data Processing by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock worth $2,977,777,000 after buying an additional 136,876 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Automatic Data Processing by 4.6% during the fourth quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock worth $2,159,088,000 after buying an additional 372,413 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Automatic Data Processing by 8.0% in the 4th quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock valued at $1,896,944,000 after buying an additional 544,210 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Price Performance

ADP stock opened at $280.81 on Monday. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $308.89. The stock has a market capitalization of $111.56 billion, a price-to-earnings ratio of 25.67 and a beta of 0.81. The business’s fifty day moving average price is $249.66 and its two-hundred day moving average price is $226.17. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the company earned $2.26 EPS. The business’s revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s payout ratio is 62.16%.

Insider Activity at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the sale, the vice president owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their position. The sale 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. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Guggenheim upped their price target on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. TD Cowen boosted their price objective on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Citigroup increased their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Mizuho lowered their price target on shares of Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Finally, Argus reduced their price objective on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.