Nomura Asset Management Co. Ltd. reduced its position in shares of Automatic Data Processing (NASDAQ:ADP) by 65.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,865 shares of the business services provider’s stock after selling 269,092 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Automatic Data Processing were worth $19,116,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wealth Quarterback LLC purchased a new position in Automatic Data Processing during the 4th quarter worth $5,301,510,000. State Street Corp increased its holdings in Automatic Data Processing by 1.0% during the 4th quarter. State Street Corp now owns 19,346,773 shares of the business services provider’s stock worth $3,315,953,000 after purchasing an additional 194,250 shares during the period. Bank of New York Mellon Corp increased its holdings in Automatic Data Processing by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 9,956,038 shares of the business services provider’s stock worth $1,360,790,000 after purchasing an additional 27,655 shares during the period. Alliancebernstein L.P. increased its holdings in Automatic Data Processing by 26.8% during the 1st quarter. Alliancebernstein L.P. now owns 9,561,003 shares of the business services provider’s stock worth $1,306,798,000 after purchasing an additional 2,021,774 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Automatic Data Processing by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 7,541,720 shares of the business services provider’s stock worth $1,283,915,000 after purchasing an additional 153,455 shares during the period. Institutional investors own 79.80% of the company’s stock.
NASDAQ:ADP traded down $10.31 during trading hours on Thursday, reaching $145.73. 1,334,269 shares of the stock were exchanged, compared to its average volume of 2,662,698. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average of $142.79 and a two-hundred day moving average of $156.55. Automatic Data Processing has a twelve month low of $103.11 and a twelve month high of $182.32. The company has a market capitalization of $66.84 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.32 and a beta of 0.83.
Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, April 29th. The business services provider reported $1.92 EPS for the quarter, meeting the consensus estimate of $1.92. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. Automatic Data Processing had a return on equity of 47.51% and a net margin of 17.20%. Automatic Data Processing’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.77 earnings per share. On average, research analysts forecast that Automatic Data Processing will post 5.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Thursday, June 11th. Automatic Data Processing’s dividend payout ratio is currently 66.79%.
In related news, VP Brian L. Michaud sold 250 shares of the firm’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $140.23, for a total transaction of $35,057.50. Following the transaction, the vice president now owns 5,412 shares of the company’s stock, valued at $758,924.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.31% of the company’s stock.
A number of research analysts have recently issued reports on ADP shares. Bank of America downgraded Automatic Data Processing from a “neutral” rating to an “underperform” rating and set a $132.00 price target on the stock. in a report on Monday, May 18th. Wedbush reiterated a “neutral” rating on shares of Automatic Data Processing in a report on Wednesday, April 29th. UBS Group upgraded Automatic Data Processing from a “sell” rating to a “neutral” rating in a report on Wednesday, April 1st. Stifel Nicolaus lifted their price target on Automatic Data Processing from $150.00 to $155.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Finally, BMO Capital Markets cut their price target on Automatic Data Processing from $179.00 to $154.00 and set a “market perform” rating on the stock in a report on Thursday, April 30th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $166.50.
Automatic Data Processing Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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