Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,579 shares of the business services provider’s stock after acquiring an additional 111 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Automatic Data Processing were worth $855,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADP. Keener Financial Planning LLC boosted its stake 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 buying an additional 76 shares during the period. Crewe Advisors LLC bought a new stake in Automatic Data Processing in the 1st quarter valued at $33,000. Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing during the first quarter worth about $36,000. Pineridge Advisors LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $39,000. Finally, Evolution Advisers Inc. bought a new position in Automatic Data Processing during the fourth quarter worth about $41,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded up $2.67 during trading hours on Wednesday, reaching $267.21. 602,401 shares of the stock traded hands, compared to its average volume of 1,660,441. The company has a market capitalization of $109.37 billion, a P/E ratio of 29.71, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. The company’s 50-day simple moving average is $249.01 and its two-hundred day simple moving average is $247.74. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $269.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results 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. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the business earned $1.89 EPS. Automatic Data Processing’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts forecast that Automatic Data Processing, Inc. will post 10.01 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analyst Ratings Changes

ADP has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. TD Cowen dropped their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $265.36.

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.