DekaBank Deutsche Girozentrale Lowers Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

DekaBank Deutsche Girozentrale cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% in the 3rd quarter, Holdings Channel reports. The fund owned 482,230 shares of the business services provider’s stock after selling 3,800 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Automatic Data Processing were worth $131,295,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing in the 2nd quarter worth approximately $27,000. Keener Financial Planning LLC grew its holdings in shares of Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Automatic Data Processing in the first quarter worth about $33,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Automatic Data Processing during the 1st quarter valued at about $36,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.5 %

NASDAQ:ADP opened at $287.96 on Friday. The firm has a market capitalization of $117.86 billion, a P/E ratio of 32.14, a PEG ratio of 3.13 and a beta of 0.79. 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 one year low of $205.53 and a one year high of $294.18. The company’s 50-day simple moving average is $279.40 and its 200 day simple moving average is $258.45.

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

Automatic Data Processing Dividend Announcement

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

Insider Buying and Selling at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. This 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 this link. In other news, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the sale, the vice president now owns 41,696 shares of the company’s stock, valued at $11,440,548.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at $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 worth $15,999,208. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on ADP. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, August 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. UBS Group increased their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Barclays boosted their price target on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Two 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $277.64.

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.