Nomura Asset Management Co. Ltd. Has $77.75 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Nomura Asset Management Co. Ltd. boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 280,961 shares of the business services provider's stock after buying an additional 15,340 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.07% of Automatic Data Processing worth $77,750,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new position in shares of Automatic Data Processing in the third quarter valued at approximately $1,830,000. Dunhill Financial LLC grew its stake in Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock valued at $29,000 after buying an additional 149 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in Automatic Data Processing by 1.1% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 13,606 shares of the business services provider's stock worth $3,765,000 after acquiring an additional 149 shares during the period. World Investment Advisors LLC lifted its position in Automatic Data Processing by 1,277.2% during the 3rd quarter. World Investment Advisors LLC now owns 83,843 shares of the business services provider's stock worth $23,202,000 after acquiring an additional 77,755 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in Automatic Data Processing by 24.5% during the third quarter. XTX Topco Ltd now owns 5,383 shares of the business services provider's stock valued at $1,490,000 after acquiring an additional 1,058 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded up $2.76 during midday trading on Monday, hitting $304.56. 2,622,043 shares of the company were exchanged, compared to its average volume of 1,635,257. The firm has a 50 day simple moving average of $295.31 and a 200-day simple moving average of $270.13. 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 $124.10 billion, a P/E ratio of 32.50, a PEG ratio of 3.54 and a beta of 0.79. Automatic Data Processing, Inc. has a 52 week low of $227.12 and a 52 week high of $309.63.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.08 EPS. Research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, December 13th. This is a positive change from Automatic Data Processing's previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a yield of 2.02%. Automatic Data Processing's dividend payout ratio is 59.77%.

Insider Activity

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the company'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 transaction, the vice president now owns 32,604 shares of the company's stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on ADP shares. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. TD Cowen raised their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a research note on Friday, November 1st. Royal Bank of Canada upped their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a "sector perform" rating in a research note on Thursday, October 31st. UBS Group raised their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Finally, Citigroup boosted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a "neutral" rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Automatic Data Processing currently has an average rating of "Hold" and an average target price of $289.91.

Automatic Data Processing Company 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.