Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 47,926 shares of the business services provider’s stock after acquiring an additional 281 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Automatic Data Processing were worth $11,165,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ardent Capital Management Inc. acquired a new position in shares of Automatic Data Processing in the 3rd quarter worth approximately $392,000. Americana Partners LLC increased its stake in Automatic Data Processing by 3.1% during the 3rd quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock worth $5,330,000 after buying an additional 660 shares during the period. Everence Capital Management Inc. increased its stake in Automatic Data Processing by 28.5% during the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after buying an additional 3,800 shares during the period. Cyndeo Wealth Partners LLC increased its stake in Automatic Data Processing by 36.7% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after buying an additional 5,318 shares during the period. Finally, BKM Wealth Management LLC purchased a new stake in Automatic Data Processing during the 4th quarter worth approximately $1,635,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ADP shares. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Evercore ISI upped their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Finally, Mizuho increased their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $254.58.

Automatic Data Processing Stock Up 0.5 %

NASDAQ:ADP traded up $1.32 during midday trading on Friday, hitting $243.31. 1,638,705 shares of the company were exchanged, compared to its average volume of 1,328,916. The company has a fifty day simple moving average of $247.22 and a 200 day simple moving average of $239.22. Automatic Data Processing, Inc. has a fifty-two week low of $201.46 and a fifty-two week high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $99.95 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period last year, the firm posted $1.96 EPS. Automatic Data Processing’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is currently 65.19%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the sale, the vice president now owns 19,906 shares of the company’s stock, valued at $4,876,970. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,162 shares of company stock valued at $3,741,859. Insiders own 0.26% of the company’s stock.

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.