Meiji Yasuda Life Insurance Co Raises Holdings in Automatic Data Processing, Inc. $ADP

Meiji Yasuda Life Insurance Co grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 136.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,183 shares of the business services provider’s stock after purchasing an additional 1,834 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Automatic Data Processing were worth $713,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ADP. Imprint Wealth LLC bought a new stake in Automatic Data Processing in the 3rd quarter worth about $25,000. Cornerstone Financial Management LLC purchased a new position in Automatic Data Processing in the 4th quarter worth about $26,000. Bard Associates Inc. bought a new position in Automatic Data Processing during the 4th quarter valued at about $28,000. Prosperity Bancshares Inc bought a new position in Automatic Data Processing during the 4th quarter valued at about $33,000. Finally, Wilkerson Advisory Group LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $287.48 on Friday. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $305.31. The firm has a market capitalization of $114.21 billion, a P/E ratio of 26.28 and a beta of 0.81. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $256.03 and a 200-day moving average price of $227.97.

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. The firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.16%.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Brian L. Michaud sold 120 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the transaction, the vice president directly owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. This trade represents a 0.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total value of $641,206.68. Following the transaction, the vice president owned 9,660 shares in the company, valued at $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,332 shares of company stock worth $898,211 in the last quarter. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Guggenheim raised their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Stifel Nicolaus lifted their target price on shares of Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. TD Cowen lifted their target price 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. Finally, UBS Group boosted their target price on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average 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.