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Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Mizuho Markets Americas LLC

Automatic Data Processing logo with Computer and Technology background

Key Points

  • Mizuho Markets Americas LLC reduced its stake in Automatic Data Processing, Inc. by 55.3% during the first quarter, now holding 4,089 shares valued at $1,249,000.
  • Several hedge funds have increased their positions, with Brighton Jones LLC boosting its stake by 92.1% in the fourth quarter.
  • Automatic Data Processing recently announced a quarterly dividend of $1.54, representing an annualized yield of 2.0%, set to be paid on October 1st.
  • Looking to export and analyze Automatic Data Processing data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Mizuho Markets Americas LLC trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 55.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,089 shares of the business services provider's stock after selling 5,052 shares during the quarter. Mizuho Markets Americas LLC's holdings in Automatic Data Processing were worth $1,249,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ADP. von Borstel & Associates Inc. bought a new position in shares of Automatic Data Processing in the 1st quarter worth approximately $30,000. Main Street Group LTD lifted its holdings in Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after purchasing an additional 38 shares in the last quarter. Y.D. More Investments Ltd bought a new stake in Automatic Data Processing during the first quarter valued at about $35,000. Abound Wealth Management raised its holdings in Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after acquiring an additional 43 shares during the period. Finally, Banque de Luxembourg S.A. bought a new stake in Automatic Data Processing during the fourth quarter valued at about $37,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. Mizuho lifted their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. UBS Group cut their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a report on Friday, June 13th. BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 target price for the company in a report on Thursday, July 10th. Finally, Stifel Nicolaus raised their target price on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $314.33.

Read Our Latest Report on ADP

Automatic Data Processing Stock Down 1.3%

Shares of ADP stock traded down $4.09 on Tuesday, hitting $299.63. The stock had a trading volume of 1,280,014 shares, compared to its average volume of 1,490,098. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average price of $307.69 and a 200 day moving average price of $305.58. The company has a market cap of $121.36 billion, a PE ratio of 30.02, a P/E/G ratio of 2.79 and a beta of 0.81. Automatic Data Processing, Inc. has a one year low of $259.08 and a one year high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.03. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The firm's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 earnings per share. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a $1.54 dividend. The ex-dividend date is Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a yield of 2.1%. Automatic Data Processing's payout ratio is currently 61.72%.

Automatic Data Processing Company Profile

(Free Report)

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.

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

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