DekaBank Deutsche Girozentrale Has $18.39 Million Stake in Automatic Data Processing (ADP)

DekaBank Deutsche Girozentrale grew its position in shares of Automatic Data Processing (NASDAQ:ADP) by 45.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 124,368 shares of the business services provider’s stock after purchasing an additional 38,746 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Automatic Data Processing were worth $18,394,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Atlantic Trust LLC acquired a new stake in Automatic Data Processing in the second quarter worth about $104,000. Integrated Investment Consultants LLC acquired a new stake in Automatic Data Processing in the second quarter worth about $111,000. Fort L.P. acquired a new stake in Automatic Data Processing in the second quarter worth about $119,000. Willingdon Wealth Management lifted its holdings in Automatic Data Processing by 328.5% in the third quarter. Willingdon Wealth Management now owns 857 shares of the business services provider’s stock worth $129,000 after purchasing an additional 657 shares during the period. Finally, Kaizen Advisory LLC lifted its holdings in Automatic Data Processing by 149.7% in the second quarter. Kaizen Advisory LLC now owns 1,081 shares of the business services provider’s stock worth $145,000 after purchasing an additional 648 shares during the period. 79.88% of the stock is owned by institutional investors.

Shares of NASDAQ ADP opened at $140.89 on Friday. Automatic Data Processing has a twelve month low of $107.61 and a twelve month high of $153.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $61.67 billion, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 2.14 and a beta of 0.91.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 31st. The business services provider reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.09. Automatic Data Processing had a net margin of 12.71% and a return on equity of 50.96%. The company had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the prior year, the company earned $0.94 EPS. Automatic Data Processing’s revenue was up 8.0% on a year-over-year basis. On average, equities research analysts forecast that Automatic Data Processing will post 5.26 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.24%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.69. The ex-dividend date is Thursday, December 13th. Automatic Data Processing’s dividend payout ratio is presently 63.45%.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Friday, October 26th. BidaskClub downgraded shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 1st. Barclays assumed coverage on shares of Automatic Data Processing in a report on Wednesday, November 14th. They issued an “overweight” rating and a $168.00 price objective for the company. Citigroup upped their price objective on shares of Automatic Data Processing from $137.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, November 1st. Finally, BMO Capital Markets reduced their price objective on shares of Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating for the company in a report on Thursday, November 1st. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $151.19.

In other Automatic Data Processing news, VP Don Mcguire sold 1,140 shares of the business’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $145.78, for a total transaction of $166,189.20. Following the sale, the vice president now owns 6,476 shares in the company, valued at approximately $944,071.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Brock Albinson sold 3,345 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $144.35, for a total value of $482,850.75. Following the sale, the vice president now owns 6,081 shares in the company, valued at approximately $877,792.35. The disclosure for this sale can be found here. Insiders sold a total of 179,767 shares of company stock valued at $26,396,593 over the last three months. 0.33% of the stock is owned by corporate insiders.

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Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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