Meiji Yasuda Asset Management Co Ltd. increased its position in Automatic Data Processing (NYSE:ADP) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,651 shares of the business services provider’s stock after buying an additional 380 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Automatic Data Processing were worth $3,957,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ADP. Middleton & Co Inc MA increased its position in Automatic Data Processing by 0.4% in the first quarter. Middleton & Co Inc MA now owns 5,306 shares of the business services provider’s stock worth $543,000 after buying an additional 20 shares in the last quarter. Hartford Financial Management Inc. increased its position in Automatic Data Processing by 0.3% in the first quarter. Hartford Financial Management Inc. now owns 31,758 shares of the business services provider’s stock worth $3,251,000 after buying an additional 100 shares in the last quarter. Granite Investment Advisors LLC increased its position in Automatic Data Processing by 28.3% in the first quarter. Granite Investment Advisors LLC now owns 4,805 shares of the business services provider’s stock worth $492,000 after buying an additional 1,061 shares in the last quarter. Quotient Investors LLC increased its position in Automatic Data Processing by 36.7% in the first quarter. Quotient Investors LLC now owns 8,200 shares of the business services provider’s stock worth $840,000 after buying an additional 2,200 shares in the last quarter. Finally, Ledyard National Bank increased its position in Automatic Data Processing by 5.8% in the first quarter. Ledyard National Bank now owns 26,565 shares of the business services provider’s stock worth $2,720,000 after buying an additional 1,455 shares in the last quarter.

Automatic Data Processing (ADP) traded up 0.28% during midday trading on Wednesday, reaching $105.41. 383,278 shares of the company were exchanged. The firm’s 50-day moving average is $107.18 and its 200-day moving average is $103.06. Automatic Data Processing has a one year low of $85.48 and a one year high of $121.77. The firm has a market cap of $46.84 billion and a P/E ratio of 27.38.

Automatic Data Processing (NYSE:ADP) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.67 by $0.02. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. On average, equities analysts expect that Automatic Data Processing will post $3.81 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.17%. The ex-dividend date is Thursday, September 7th.

ILLEGAL ACTIVITY NOTICE: “Automatic Data Processing (ADP) Stake Boosted by Meiji Yasuda Asset Management Co Ltd.” was reported by Watch List News and is owned by of Watch List News. If you are accessing this story on another site, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this story can be viewed at https://www.watchlistnews.com/automatic-data-processing-adp-stake-boosted-by-meiji-yasuda-asset-management-co-ltd/1532185.html.

A number of equities analysts have weighed in on ADP shares. Argus cut their price target on shares of Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a research note on Wednesday, May 31st. Evercore ISI reaffirmed an “underperform” rating and set a $85.00 price target on shares of Automatic Data Processing in a research note on Friday, June 2nd. Goldman Sachs Group, Inc. (The) downgraded shares of Automatic Data Processing from a “buy” rating to a “neutral” rating and cut their price target for the stock from $115.00 to $108.00 in a research note on Tuesday, June 20th. Zacks Investment Research downgraded shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $107.25.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 36,363 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $110.00, for a total transaction of $3,999,930.00. Following the completion of the sale, the chief executive officer now owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald Weinstein sold 1,933 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $197,127.34. Following the sale, the vice president now directly owns 25,737 shares of the company’s stock, valued at approximately $2,624,659.26. The disclosure for this sale can be found here. Insiders have sold a total of 41,228 shares of company stock valued at $4,496,063 in the last ninety days.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NYSE:ADP).

Institutional Ownership by Quarter for Automatic Data Processing (NYSE:ADP)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with Analyst Ratings Network's FREE daily email newsletter.