Nissay Asset Management Corp Japan ADV Has $10.92 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Posted by Defense World Staff on Sep 11th, 2023

Nissay Asset Management Corp Japan ADV lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 3.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,066 shares of the business services provider’s stock after selling 1,592 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Automatic Data Processing were worth $10,924,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Morgan Stanley lifted its position in shares of Automatic Data Processing by 7.8% in the fourth quarter. Morgan Stanley now owns 11,010,014 shares of the business services provider’s stock worth $2,629,852,000 after buying an additional 794,328 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Automatic Data Processing by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 9,045,455 shares of the business services provider’s stock worth $2,157,923,000 after purchasing an additional 123,725 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Automatic Data Processing by 10.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,586,824 shares of the business services provider’s stock worth $2,051,049,000 after purchasing an additional 822,790 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Automatic Data Processing by 94,265.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,770,728 shares of the business services provider’s stock worth $1,617,256,000 after purchasing an additional 6,763,553 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Automatic Data Processing by 0.4% during the 1st quarter. Wellington Management Group LLP now owns 5,182,839 shares of the business services provider’s stock worth $1,153,855,000 after purchasing an additional 20,771 shares during the last quarter. Institutional investors and hedge funds own 79.37% of the company’s stock.

Insider Activity

In related news, insider Carlos A. Rodriguez sold 58,864 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $250.42, for a total transaction of $14,740,722.88. Following the sale, the insider now directly owns 44,859 shares in the company, valued at approximately $11,233,590.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Maria Black sold 2,963 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $253.90, for a total transaction of $752,305.70. Following the sale, the chief executive officer now directly owns 54,433 shares in the company, valued at approximately $13,820,538.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Carlos A. Rodriguez sold 58,864 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $250.42, for a total value of $14,740,722.88. Following the transaction, the insider now directly owns 44,859 shares in the company, valued at approximately $11,233,590.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,835 shares of company stock worth $29,763,730. Company insiders own 0.33% of the company’s stock.

Automatic Data Processing Trading Down 0.3 %

ADP stock opened at $249.37 on Monday. Automatic Data Processing, Inc. has a 1-year low of $201.46 and a 1-year high of $274.92. The firm has a market cap of $102.74 billion, a P/E ratio of 30.41, a P/E/G ratio of 2.34 and a beta of 0.81. The business’s 50 day moving average is $243.57 and its 200-day moving average is $225.95. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85.

Automatic Data Processing (NASDAQ:ADP – Get Free Report) last released its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.06. Automatic Data Processing had a return on equity of 107.15% and a net margin of 18.94%. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period in the prior year, the company posted $1.50 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. 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 business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be paid a $1.25 dividend. The ex-dividend date is Thursday, September 7th. This represents a $5.00 annualized dividend and a dividend yield of 2.01%. Automatic Data Processing’s dividend payout ratio is currently 60.98%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ADP shares. JPMorgan Chase & Co. boosted their price objective on Automatic Data Processing from $260.00 to $280.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 22nd. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $240.00 to $260.00 in a research report on Wednesday, July 26th. Morgan Stanley boosted their price objective on Automatic Data Processing from $240.00 to $260.00 in a research report on Thursday, July 27th. UBS Group initiated coverage on Automatic Data Processing in a research report on Friday, June 2nd. They set a “neutral” rating and a $230.00 price objective for the company. Finally, Mizuho upped their price target on Automatic Data Processing from $255.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $249.57.

View Our Latest Analysis on ADP

About Automatic Data Processing

(Free Report)

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.