Meiji Yasuda Life Insurance Co Has $5.58 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Meiji Yasuda Life Insurance Co grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,390 shares of the business services provider’s stock after buying an additional 2,346 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Automatic Data Processing were worth $5,583,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ADP. Keener Financial Planning LLC lifted its holdings in Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after buying an additional 76 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of Automatic Data Processing during the first quarter worth $33,000. Pathway Financial Advisers LLC acquired a new position in shares of Automatic Data Processing during the first quarter valued at $36,000. Pineridge Advisors LLC bought a new position in Automatic Data Processing in the fourth quarter valued at about $39,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Automatic Data Processing in the second quarter worth about $40,000. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Stock Performance

Shares of ADP opened at $279.41 on Wednesday. The stock has a market capitalization of $114.36 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $281.54. The firm has a fifty day simple moving average of $262.31 and a 200 day simple moving average of $250.94. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. Automatic Data Processing’s quarterly revenue was up 7.2% on a year-over-year basis. Research analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $1.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 2.00%. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Analysts Set New Price Targets

ADP has been the subject of several analyst reports. Barclays lifted their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Bank of America raised their price target on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their target price on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $265.36.

Insider Buying and Selling

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,817 shares of company stock worth $15,999,208. Insiders own 0.26% 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.