Meiji Yasuda Life Insurance Co Purchases 1,834 Shares of Automatic Data Processing, Inc. $ADP

Meiji Yasuda Life Insurance Co lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 136.0% during the second quarter, Holdings Channel reports. 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 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ADP. Imprint Wealth LLC bought a new stake in Automatic Data Processing during the third quarter valued at about $25,000. Cornerstone Financial Management LLC bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $26,000. Bard Associates Inc. bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $28,000. Whipplewood Advisors LLC boosted its stake in shares of Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after acquiring an additional 137 shares during the period. Finally, Prosperity Bancshares Inc purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth about $33,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the subject of several recent analyst reports. UBS Group upped their price target on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Guggenheim boosted 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. BMO Capital Markets upped their target price on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Finally, Argus cut their target price 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 analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $273.50.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 798 shares of Automatic Data Processing stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $280.00, for a total value of $223,440.00. Following the completion of the transaction, the vice president directly owned 13,193 shares of the company’s stock, valued at $3,694,040. This trade represents a 5.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the completion of the sale, the vice president owned 18,442 shares in the company, valued at approximately $5,158,227.40. This trade represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,332 shares of company stock worth $898,211 in the last 90 days. 0.20% of the stock is currently owned by company insiders.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $287.48 on Friday. The firm has a market cap of $114.21 billion, a PE ratio of 26.28 and a beta of 0.81. The stock has a 50 day moving average of $256.03 and a 200 day moving average of $227.97. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $305.31.

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

Automatic Data Processing Dividend Announcement

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

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.