1,107,309 Shares in Automatic Data Processing, Inc. $ADP Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,107,309 shares of the business services provider’s stock, valued at approximately $247,983,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.28% of Automatic Data Processing as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Imprint Wealth LLC bought a new stake in Automatic Data Processing during the 3rd quarter worth approximately $25,000. Cornerstone Financial Management LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter worth $26,000. Bard Associates Inc. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at $28,000. Prosperity Bancshares Inc bought a new position in shares of Automatic Data Processing in the fourth quarter valued at about $33,000. Finally, High Point Wealth Management LLC bought a new position in shares of Automatic Data Processing in the fourth quarter valued at about $34,000. 80.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ADP has been the topic of a number of research analyst reports. Robert W. Baird decreased their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. BMO Capital Markets upped their target price on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Wells Fargo & Company raised their price target on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Finally, Jefferies Financial Group reduced their price objective on Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $273.50.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total value of $641,206.68. Following the sale, the vice president directly owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. The trade was a 19.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is currently owned by insiders.

Automatic Data Processing Stock Down 2.5%

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

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results 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. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter last year, the firm posted $2.26 earnings per share. Automatic Data Processing’s revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Announces Dividend

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

About Automatic Data Processing

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.