Resona Asset Management Co. Ltd. Makes New $38.50 Million Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Resona Asset Management Co. Ltd. acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 131,236 shares of the business services provider's stock, valued at approximately $38,497,000.

Several other large investors also recently modified their holdings of the stock. Dunhill Financial LLC raised its stake in Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock worth $29,000 after acquiring an additional 149 shares in the last quarter. Cyrus J. Lawrence LLC boosted its holdings in Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock valued at $35,000 after acquiring an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC bought a new position in shares of Automatic Data Processing in the 4th quarter valued at about $37,000. Wingate Wealth Advisors Inc. acquired a new stake in Automatic Data Processing during the 4th quarter worth $37,000. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $41,000. 80.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Barclays boosted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. StockNews.com cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, UBS Group upped their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $302.30.

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Automatic Data Processing Stock Down 2.2 %

ADP stock traded down $6.51 during trading on Thursday, reaching $288.18. The stock had a trading volume of 1,310,650 shares, compared to its average volume of 1,657,611. The company's 50 day moving average is $302.79 and its two-hundred day moving average is $297.29. The company has a market capitalization of $117.42 billion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 3.62 and a beta of 0.74. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.14%. Automatic Data Processing's payout ratio is 64.23%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 473 shares of Automatic Data Processing stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now directly owns 7,244 shares of the company's stock, valued at approximately $2,218,112.80. The trade was a 6.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the transaction, the vice president now directly owns 3,063 shares of the company's stock, valued at $929,007.90. This represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,364 shares of company stock worth $1,613,094. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Profile

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.