Sumitomo Life Insurance Co. Sells 504 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Sumitomo Life Insurance Co. reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,698 shares of the business services provider’s stock after selling 504 shares during the period. Sumitomo Life Insurance Co.’s holdings in Automatic Data Processing were worth $2,259,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ADP. Ardent Capital Management Inc. bought a new stake in Automatic Data Processing in the third quarter valued at about $392,000. Americana Partners LLC boosted its position in Automatic Data Processing by 3.1% during the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock valued at $5,330,000 after purchasing an additional 660 shares during the last quarter. Cyndeo Wealth Partners LLC grew its stake in Automatic Data Processing by 36.7% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after purchasing an additional 5,318 shares in the last quarter. BKM Wealth Management LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $1,635,000. Finally, Wayfinding Financial LLC lifted its stake in Automatic Data Processing by 6.4% in the third quarter. Wayfinding Financial LLC now owns 2,907 shares of the business services provider’s stock valued at $695,000 after acquiring an additional 174 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP John Ayala sold 1,500 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $235.13, for a total transaction of $352,695.00. Following the transaction, the vice president now owns 19,183 shares in the company, valued at $4,510,498.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Automatic Data Processing news, VP John Ayala sold 1,500 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $235.13, for a total transaction of $352,695.00. Following the transaction, the vice president now owns 19,183 shares in the company, valued at $4,510,498.79. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Don Mcguire sold 11,333 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the sale, the vice president now directly owns 19,906 shares of the company’s stock, valued at $4,876,970. The disclosure for this sale can be found here. Insiders have sold a total of 16,662 shares of company stock valued at $4,094,554 over the last ninety days. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Mizuho raised their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Evercore ISI lifted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $254.58.

Automatic Data Processing Stock Down 0.2 %

Automatic Data Processing stock opened at $243.85 on Monday. The firm has a market cap of $100.17 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 2.29 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52-week low of $201.46 and a 52-week high of $256.84. The firm has a 50 day moving average price of $247.90 and a two-hundred day moving average price of $239.12.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 EPS. Equities analysts predict that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. Automatic Data Processing’s payout ratio is presently 65.19%.

About Automatic Data Processing

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.