Nomura Holdings Inc. raised its stake in Automatic Data Processing (NYSE:ADP) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 34,892 shares of the company’s stock after buying an additional 331 shares during the period. Nomura Holdings Inc.’s holdings in Automatic Data Processing were worth $3,185,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation increased its position in Automatic Data Processing by 228.5% in the second quarter. Zions Bancorporation now owns 1,189 shares of the company’s stock valued at $110,000 after buying an additional 827 shares during the period. Cornerstone Advisors Inc. increased its position in Automatic Data Processing by 406.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,246 shares of the company’s stock valued at $114,000 after buying an additional 1,000 shares during the period. Hanson McClain Inc. increased its position in Automatic Data Processing by 2.0% in the second quarter. Hanson McClain Inc. now owns 1,287 shares of the company’s stock valued at $118,000 after buying an additional 25 shares during the period. Pinkerton Retirement Specialists LLC acquired a new position in Automatic Data Processing during the second quarter valued at approximately $133,000. Finally, Kleinwort Benson Investors Dublin Ltd acquired a new position in Automatic Data Processing during the second quarter valued at approximately $202,000.

Shares of Automatic Data Processing (NYSE:ADP) opened at 87.79 on Wednesday. Automatic Data Processing has a 12-month low of $76.65 and a 12-month high of $96.00. The company has a market capitalization of $40.05 billion and a P/E ratio of 27.03. The stock’s 50 day moving average is $89.10 and its 200-day moving average is $89.31.

Automatic Data Processing (NYSE:ADP) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.02. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Analysts anticipate that Automatic Data Processing will post $3.62 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $2.12 annualized dividend and a dividend yield of 2.41%.

Several research analysts recently commented on ADP shares. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Wednesday, June 29th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $93.00 price target on shares of Automatic Data Processing in a report on Friday, July 29th. Wedbush started coverage on shares of Automatic Data Processing in a report on Thursday, September 8th. They issued a “neutral” rating and a $100.00 price target for the company. Citigroup Inc. reissued a “neutral” rating and issued a $90.00 price target (up from $89.00) on shares of Automatic Data Processing in a report on Friday, July 29th. Finally, Robert W. Baird downgraded shares of Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $94.00 price target for the company. in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $95.14.

In other Automatic Data Processing news, VP Michael C. Eberhard sold 3,412 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $92.00, for a total transaction of $313,904.00. Following the completion of the sale, the vice president now directly owns 27,524 shares of the company’s stock, valued at $2,532,208. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Maria Black sold 527 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $90.00, for a total transaction of $47,430.00. Following the sale, the vice president now directly owns 7,836 shares of the company’s stock, valued at $705,240. The disclosure for this sale can be found here.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions and business process outsourcing. The Company operates through two segments: Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled HCM solutions.

5 Day Chart for NYSE:ADP

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