Mizuho Markets Americas LLC Has $6.34 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Mizuho Markets Americas LLC lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 8.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,925 shares of the business services provider's stock after selling 2,020 shares during the quarter. Mizuho Markets Americas LLC's holdings in Automatic Data Processing were worth $6,344,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Automatic Data Processing during the second quarter worth about $27,000. Hexagon Capital Partners LLC boosted its position in Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider's stock valued at $32,000 after purchasing an additional 51 shares during the last quarter. Crewe Advisors LLC acquired a new position in Automatic Data Processing during the first quarter valued at approximately $33,000. Capital Performance Advisors LLP acquired a new position in Automatic Data Processing during the third quarter valued at approximately $35,000. Finally, Pathway Financial Advisers LLC acquired a new position in Automatic Data Processing during the first quarter valued at approximately $36,000. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock traded down $4.35 during mid-day trading on Friday, reaching $297.64. 1,457,744 shares of the company were exchanged, compared to its average volume of 1,633,247. The company has a fifty day simple moving average of $287.23 and a 200-day simple moving average of $263.87. Automatic Data Processing, Inc. has a 12 month low of $227.12 and a 12 month high of $309.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $121.28 billion, a PE ratio of 31.77, a PEG ratio of 3.58 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter last year, the company earned $2.08 EPS. The company's revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Friday, December 13th. This is a positive change from Automatic Data Processing's previous quarterly dividend of $1.40. Automatic Data Processing's dividend payout ratio (DPR) is 59.77%.

Insiders Place Their Bets

In related news, VP Sreenivasa Kutam sold 38,975 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares of the company's stock, valued at $9,781,200. This trade represents a 54.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. This trade represents a 23.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,792 shares of company stock worth $27,691,708 in the last 90 days. Company insiders own 0.21% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Citigroup increased their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. Stifel Nicolaus raised their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the company a "hold" rating in a research report on Thursday, August 1st. Bank of America raised their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. UBS Group raised their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. Finally, TD Cowen raised their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $289.91.

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.