Commerzbank Aktiengesellschaft FI reduced its position in Automatic Data Processing (NASDAQ:ADP) by 45.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,549 shares of the business services provider’s stock after selling 4,669 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Automatic Data Processing were worth $607,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Automatic Data Processing by 1,971.2% during the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after purchasing an additional 28,201,085 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Automatic Data Processing by 5,962.5% during the second quarter. Janus Henderson Group PLC now owns 4,013,865 shares of the business services provider’s stock valued at $411,260,000 after purchasing an additional 3,947,657 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Automatic Data Processing by 42,776.7% during the third quarter. Canada Pension Plan Investment Board now owns 1,376,771 shares of the business services provider’s stock worth $150,509,000 after buying an additional 1,373,560 shares during the period. Fundsmith LLP boosted its position in shares of Automatic Data Processing by 29.0% during the second quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock worth $530,368,000 after buying an additional 1,164,972 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Automatic Data Processing by 671.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,245,110 shares of the business services provider’s stock worth $127,574,000 after buying an additional 1,083,799 shares during the period. 78.67% of the stock is owned by hedge funds and other institutional investors.
Shares of Automatic Data Processing (NASDAQ:ADP) opened at $118.47 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10. Automatic Data Processing has a 52-week low of $94.11 and a 52-week high of $121.77. The company has a market capitalization of $52,540.00, a price-to-earnings ratio of 30.07, a PEG ratio of 2.93 and a beta of 0.85.
Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the business earned $0.86 EPS. The company’s revenue was up 5.6% on a year-over-year basis. sell-side analysts forecast that Automatic Data Processing will post 3.91 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 8th were paid a $0.63 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.13%. Automatic Data Processing’s dividend payout ratio is 63.96%.
In other news, insider Edward B. Flynn III sold 7,886 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $117.74, for a total value of $928,497.64. Following the transaction, the insider now directly owns 40,522 shares of the company’s stock, valued at $4,771,060.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $118.09, for a total transaction of $11,307,826.04. Following the transaction, the chief executive officer now directly owns 124,722 shares in the company, valued at $14,728,420.98. The disclosure for this sale can be found here. Insiders sold 115,505 shares of company stock worth $13,612,788 over the last ninety days. 0.25% of the stock is currently owned by company insiders.
ADP has been the subject of several analyst reports. BidaskClub downgraded Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 price objective for the company in a research report on Friday, January 5th. Morgan Stanley reiterated an “equal weight” rating on shares of Automatic Data Processing in a research report on Wednesday, November 15th. Bank of America boosted their price objective on Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Finally, Royal Bank of Canada reduced their price objective on Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating for the company in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. Automatic Data Processing has an average rating of “Hold” and a consensus target price of $115.21.
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About Automatic Data Processing
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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