Mitsubishi UFJ Asset Management Co. Ltd. Buys New Shares in Automatic Data Processing, Inc. $ADP

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,107,309 shares of the business services provider’s stock, valued at approximately $247,983,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Imprint Wealth LLC acquired a new position in Automatic Data Processing during the third quarter valued at approximately $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $26,000. Bard Associates Inc. acquired a new position in Automatic Data Processing during the fourth quarter worth $28,000. Prosperity Bancshares Inc bought a new stake in Automatic Data Processing during the fourth quarter worth $33,000. Finally, High Point Wealth Management LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ADP. UBS Group upped their target price on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Argus lowered their price target on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. TD Cowen upped their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Wells Fargo & Company raised their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Mizuho decreased their target price on Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Trading Down 2.5%

Shares of ADP stock opened at $266.06 on Tuesday. The stock has a market cap of $105.69 billion, a P/E ratio of 24.32 and a beta of 0.81. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $310.08. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The stock has a 50 day simple moving average of $245.82 and a 200 day simple moving average of $225.35.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The firm had revenue of $5.47 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, research analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s payout ratio is 62.16%.

Insider Buying and Selling

In related news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the sale, the vice president owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is currently owned by company insiders.

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.