DekaBank Deutsche Girozentrale Has $131.30 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

DekaBank Deutsche Girozentrale cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 482,230 shares of the business services provider’s stock after selling 3,800 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.12% of Automatic Data Processing worth $131,295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADP. Vanguard Group Inc. boosted its stake in Automatic Data Processing by 0.4% during the first quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock worth $9,932,020,000 after acquiring an additional 173,298 shares in the last quarter. Ameriprise Financial Inc. increased its position in Automatic Data Processing by 12.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after buying an additional 435,093 shares in the last quarter. Capital Research Global Investors increased its position in Automatic Data Processing by 2.3% in the 1st quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock valued at $905,354,000 after buying an additional 81,869 shares in the last quarter. Legal & General Group Plc boosted its holdings in Automatic Data Processing by 4.1% in the second quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock worth $846,912,000 after acquiring an additional 139,561 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in Automatic Data Processing by 27.7% in the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after acquiring an additional 589,831 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the sale, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,817 shares of company stock valued at $15,999,208. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $287.96 on Friday. The company has a market capitalization of $117.86 billion, a P/E ratio of 32.14, a P/E/G ratio of 3.13 and a beta of 0.79. The business has a fifty day simple moving average of $279.40 and a two-hundred day simple moving average of $258.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 EPS. On average, analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ADP. UBS Group upped their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Citigroup raised their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $277.64.

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.