Automatic Data Processing (ADP) Position Lifted by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. increased its holdings in shares of Automatic Data Processing (NYSE:ADP) by 65.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,800 shares of the business services provider’s stock after acquiring an additional 1,500 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Automatic Data Processing were worth $389,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Grisanti Capital Management LLC increased its holdings in shares of Automatic Data Processing by 4.5% during the 1st quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock worth $107,000 after acquiring an additional 45 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Automatic Data Processing by 1.8% during the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after acquiring an additional 17 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Automatic Data Processing during the 1st quarter worth approximately $113,000. Grove Bank & Trust increased its holdings in shares of Automatic Data Processing by 16.4% during the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after acquiring an additional 170 shares during the last quarter. Finally, Armbruster Capital Management Inc. increased its holdings in shares of Automatic Data Processing by 2.5% during the 2nd quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock worth $135,000 after acquiring an additional 32 shares during the last quarter.

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A number of research firms recently weighed in on ADP. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Royal Bank Of Canada boosted their price target on Automatic Data Processing from $94.00 to $95.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 1st. Robert W. Baird restated a “neutral” rating and issued a $95.00 price target on shares of Automatic Data Processing in a research note on Sunday, July 30th. Stifel Nicolaus restated a “hold” rating and issued a $108.00 price target (up from $103.00) on shares of Automatic Data Processing in a research note on Sunday, July 30th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $105.00 price target (up from $100.00) on shares of Automatic Data Processing in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $107.29.

In other news, VP Maria Black sold 631 shares of Automatic Data Processing stock in a transaction on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total value of $67,289.84. Following the completion of the transaction, the vice president now directly owns 10,550 shares in the company, valued at $1,125,052. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of Automatic Data Processing stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $110.00, for a total value of $3,999,930.00. Following the completion of the transaction, the chief executive officer now owns 146,494 shares of the company’s stock, valued at $16,114,340. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,657 shares of company stock valued at $4,457,476.

Shares of Automatic Data Processing (NYSE ADP) opened at 114.11 on Wednesday. The company has a market capitalization of $50.71 billion and a P/E ratio of 29.64. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77. The company has a 50-day moving average price of $108.03 and a 200 day moving average price of $104.51.

Automatic Data Processing (NYSE:ADP) last released its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the business earned $0.69 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities research analysts anticipate that Automatic Data Processing will post $3.81 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 8th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Thursday, September 7th.

Automatic Data Processing Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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

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