Daiwa Securities Group Inc. Has $6.07 Million Position in Automatic Data Processing (ADP)
Daiwa Securities Group Inc. reduced its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 30.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,479 shares of the business services provider’s stock after selling 24,371 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Automatic Data Processing were worth $6,065,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Proficio Capital Partners LLC increased its holdings in shares of Automatic Data Processing by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after acquiring an additional 17 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at approximately $102,000. Grove Bank & Trust increased its holdings in shares of Automatic Data Processing by 16.4% in the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after acquiring an additional 170 shares during the last quarter. Family Capital Trust Co bought a new stake in shares of Automatic Data Processing in the 3rd quarter valued at approximately $137,000. Finally, San Francisco Sentry Investment Group CA bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at approximately $136,000. Institutional investors and hedge funds own 78.78% of the company’s stock.
Automatic Data Processing (ADP) opened at $117.02 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10. Automatic Data Processing has a 12-month low of $94.11 and a 12-month high of $121.77. The stock has a market capitalization of $51,900.00, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 2.92 and a beta of 0.86.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. sell-side analysts expect that Automatic Data Processing will post 3.91 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 8th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Thursday, December 7th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s payout ratio is 63.96%.
ADP has been the subject of a number of research analyst reports. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. BMO Capital Markets lowered their price target on Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Bank of America boosted their price objective on Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. Citigroup restated a “neutral” rating and set a $110.00 price objective (up previously from $98.00) on shares of Automatic Data Processing in a research report on Thursday, August 17th. Finally, Morgan Stanley upgraded Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price objective for the company in a research report on Tuesday, November 14th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $114.17.
Automatic Data Processing Profile
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.
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