Automatic Data Processing (NASDAQ:ADP) Stock Position Boosted by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI boosted its stake in Automatic Data Processing (NASDAQ:ADP) by 95.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,170 shares of the business services provider’s stock after buying an additional 25,511 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Automatic Data Processing were worth $8,625,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Comerica Securities Inc. raised its position in shares of Automatic Data Processing by 411.2% in the fourth quarter. Comerica Securities Inc. now owns 42,538 shares of the business services provider’s stock worth $5,611,000 after acquiring an additional 34,216 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Automatic Data Processing by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,299,268 shares of the business services provider’s stock worth $170,354,000 after acquiring an additional 49,730 shares during the period. Geode Capital Management LLC raised its position in shares of Automatic Data Processing by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 6,258,804 shares of the business services provider’s stock worth $819,520,000 after purchasing an additional 496,843 shares during the last quarter. FMR LLC raised its position in shares of Automatic Data Processing by 90.4% during the 4th quarter. FMR LLC now owns 1,439,697 shares of the business services provider’s stock worth $188,772,000 after purchasing an additional 683,417 shares during the last quarter. Finally, Actinver Wealth Management Inc. acquired a new position in shares of Automatic Data Processing during the 4th quarter worth about $453,000. Hedge funds and other institutional investors own 79.80% of the company’s stock.

In related news, VP Dermot J. O’brien sold 1,771 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $162.04, for a total transaction of $286,972.84. Following the completion of the sale, the vice president now owns 14,896 shares of the company’s stock, valued at approximately $2,413,747.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Several research firms recently weighed in on ADP. Robert W. Baird upped their price target on shares of Automatic Data Processing from $167.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday. BidaskClub downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Monday, June 24th. Sanford C. Bernstein downgraded shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. Jefferies Financial Group upped their price target on shares of Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Citigroup upped their price target on shares of Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $169.73.

NASDAQ ADP traded down $0.97 during trading hours on Friday, hitting $163.33. 5,309 shares of the company’s stock traded hands, compared to its average volume of 1,561,465. Automatic Data Processing has a 52-week low of $121.40 and a 52-week high of $172.00. The company has a market cap of $71.51 billion, a P/E ratio of 29.99, a PEG ratio of 2.11 and a beta of 0.90. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average is $166.09.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.01. Automatic Data Processing had a net margin of 13.76% and a return on equity of 50.53%. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the company earned $0.99 EPS. Automatic Data Processing’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Automatic Data Processing will post 6.12 EPS for the current year.

About Automatic Data Processing

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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