Nissay Asset Management Corp Japan ADV Buys 3,611 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Nissay Asset Management Corp Japan ADV increased its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,801 shares of the business services provider's stock after purchasing an additional 3,611 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Automatic Data Processing were worth $27,486,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. AMG National Trust Bank raised its position in Automatic Data Processing by 0.3% in the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock worth $3,318,000 after buying an additional 33 shares during the last quarter. Aspiriant LLC lifted its stake in shares of Automatic Data Processing by 1.5% in the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider's stock worth $694,000 after purchasing an additional 36 shares during the period. Precedent Wealth Partners LLC lifted its stake in shares of Automatic Data Processing by 0.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider's stock worth $1,466,000 after purchasing an additional 36 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of Automatic Data Processing by 1.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock worth $1,079,000 after purchasing an additional 36 shares during the period. Finally, Riversedge Advisors LLC lifted its stake in shares of Automatic Data Processing by 4.2% in the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider's stock worth $268,000 after purchasing an additional 37 shares during the period. Institutional investors own 80.03% of the company's stock.

Insider Activity

In related news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares of the company's stock, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher D'ambrosio sold 473 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the sale, the vice president now directly owns 7,244 shares of the company's stock, valued at approximately $2,218,112.80. This represents a 6.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,451 shares of company stock worth $743,024. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Stock Up 1.1%

ADP traded up $3.37 on Monday, reaching $322.74. The company's stock had a trading volume of 384,423 shares, compared to its average volume of 1,825,795. The stock has a 50 day moving average of $298.29 and a two-hundred day moving average of $300.13. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $131.01 billion, a price-to-earnings ratio of 33.66, a P/E/G ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same quarter in the prior year, the business posted $2.88 earnings per share. Automatic Data Processing's revenue was up 5.7% compared to the same quarter last year. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio is presently 63.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ADP shares. Royal Bank of Canada reissued a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, May 1st. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. UBS Group increased their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Finally, TD Securities increased their price objective on shares of Automatic Data Processing from $296.00 to $298.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and an average target price of $303.55.

Automatic Data Processing Profile

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.