Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,024 shares of the business services provider’s stock after purchasing an additional 943 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Automatic Data Processing were worth $3,051,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ADP. Snider Financial Group purchased a new stake in Automatic Data Processing during the 3rd quarter worth approximately $221,000. Metis Global Partners LLC grew its holdings in shares of Automatic Data Processing by 1.2% during the third quarter. Metis Global Partners LLC now owns 21,631 shares of the business services provider’s stock valued at $5,986,000 after buying an additional 257 shares during the last quarter. Curi RMB Capital LLC grew its holdings in shares of Automatic Data Processing by 9.8% during the third quarter. Curi RMB Capital LLC now owns 7,669 shares of the business services provider’s stock valued at $2,122,000 after buying an additional 684 shares during the last quarter. Planning Capital Management Corp increased its position in shares of Automatic Data Processing by 96.3% in the 3rd quarter. Planning Capital Management Corp now owns 3,788 shares of the business services provider’s stock valued at $1,048,000 after acquiring an additional 1,858 shares during the period. Finally, Zions Bancorporation N.A. raised its stake in Automatic Data Processing by 2.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 1,996 shares of the business services provider’s stock worth $552,000 after acquiring an additional 57 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on ADP shares. Jefferies Financial Group boosted their price target on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Mizuho increased their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Citigroup upped their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, Barclays raised their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Trading Down 1.8 %

ADP stock opened at $301.99 on Friday. Automatic Data Processing, Inc. has a 52-week low of $227.12 and a 52-week high of $309.37. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a market cap of $123.05 billion, a P/E ratio of 32.82, a PEG ratio of 3.58 and a beta of 0.79. The company’s 50-day simple moving average is $286.03 and its 200-day simple moving average is $263.23.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.08 earnings per share. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, December 13th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s payout ratio is presently 65.74%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. The trade was a 23.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares in the company, valued at approximately $11,440,548.48. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,792 shares of company stock worth $27,691,708. Company insiders own 0.21% 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.