Mitsubishi UFJ Asset Management Co. Ltd. Has $764.01 Million Position in Automatic Data Processing, Inc. $ADP

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,477,321 shares of the business services provider’s stock after buying an additional 101,889 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Automatic Data Processing were worth $764,006,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. Nuveen LLC acquired a new position in Automatic Data Processing during the 1st quarter valued at about $661,771,000. Mackenzie Financial Corp grew its position in Automatic Data Processing by 128.1% during the first quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider’s stock valued at $484,480,000 after buying an additional 890,440 shares during the period. Ameriprise Financial Inc. grew its position in shares of Automatic Data Processing by 15.7% during the 1st quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock valued at $1,348,805,000 after acquiring an additional 601,400 shares during the period. Goldman Sachs Group Inc. increased its position in Automatic Data Processing by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider’s stock worth $934,647,000 after buying an additional 564,187 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Automatic Data Processing by 110.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 608,997 shares of the business services provider’s stock valued at $186,067,000 after purchasing an additional 319,132 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 0.7%

Shares of NASDAQ ADP opened at $254.16 on Friday. The company has a market cap of $102.79 billion, a PE ratio of 25.09, a P/E/G ratio of 2.39 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50 day moving average price is $284.90 and its 200-day moving average price is $299.99. Automatic Data Processing, Inc. has a 52-week low of $249.68 and a 52-week high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.05. Automatic Data Processing had a return on equity of 70.63% and a net margin of 19.79%.The business had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the prior year, the firm posted $2.33 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ADP. Weiss Ratings reissued a “buy (b)” rating on shares of Automatic Data Processing in a report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price target on Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. Wells Fargo & Company lowered their price objective on shares of Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. UBS Group lowered their price target on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday, September 17th. Finally, Morgan Stanley raised their price objective on Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $312.67.

Insiders Place Their Bets

In related news, VP David Foskett sold 1,373 shares of Automatic Data Processing stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $407,190.61. Following the completion of the sale, the vice president owned 11,781 shares of the company’s stock, valued at $3,493,891.17. The trade was a 10.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Joseph Desilva sold 4,614 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $1,368,373.98. Following the sale, the vice president owned 17,536 shares of the company’s stock, valued at approximately $5,200,651.52. This trade represents a 20.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 52,516 shares of company stock worth $15,632,410 in the last 90 days. Insiders own 0.20% of the company’s stock.

About Automatic Data Processing

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.