Norinchukin Bank The Buys 2,437 Shares of Automatic Data Processing (ADP)

Norinchukin Bank The boosted its stake in Automatic Data Processing (NASDAQ:ADP) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,885 shares of the business services provider’s stock after purchasing an additional 2,437 shares during the period. Automatic Data Processing makes up about 0.6% of Norinchukin Bank The’s investment portfolio, making the stock its 26th biggest holding. Norinchukin Bank The owned approximately 0.06% of Automatic Data Processing worth $28,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. Vanguard Group Inc. boosted its position in Automatic Data Processing by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock valued at $3,586,099,000 after buying an additional 811,960 shares during the last quarter. BlackRock Inc. boosted its position in Automatic Data Processing by 0.8% in the 2nd quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock valued at $3,060,398,000 after buying an additional 237,439 shares during the last quarter. Wells Fargo & Company MN boosted its position in Automatic Data Processing by 2.9% in the 2nd quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock valued at $696,182,000 after buying an additional 190,717 shares during the last quarter. Polen Capital Management LLC boosted its position in Automatic Data Processing by 6.6% in the 2nd quarter. Polen Capital Management LLC now owns 6,661,902 shares of the business services provider’s stock valued at $682,578,000 after buying an additional 411,369 shares during the last quarter. Finally, Fundsmith LLP boosted its position in Automatic Data Processing by 29.0% in the 2nd quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock valued at $530,368,000 after buying an additional 1,164,972 shares during the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Automatic Data Processing (NASDAQ:ADP) opened at $116.88 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10. Automatic Data Processing has a 12-month low of $94.11 and a 12-month high of $121.77. The company has a market cap of $51,840.00, a PE ratio of 29.66, a PEG ratio of 2.92 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the company posted $0.86 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. research analysts forecast that Automatic Data Processing will post 3.91 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be given a dividend of $0.63 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $2.52 annualized dividend and a dividend yield of 2.16%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.96%.

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein upped their price objective on shares of Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 31st. Barclays upped their price objective on shares of Automatic Data Processing from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, October 26th. BidaskClub cut shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Goldman Sachs Group raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.02 to $135.00 in a research report on Monday, December 11th. Finally, Bank of America raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 5th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $114.14.

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About Automatic Data Processing

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.

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

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