Deutsche Bank AG Has $772.38 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Deutsche Bank AG trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,638,546 shares of the business services provider's stock after selling 299,792 shares during the quarter. Deutsche Bank AG owned about 0.65% of Automatic Data Processing worth $772,382,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ADP. Cyrus J. Lawrence LLC boosted its stake in shares of Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock valued at $35,000 after purchasing an additional 67 shares during the period. Sugar Maple Asset Management LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth approximately $37,000. Wingate Wealth Advisors Inc. purchased a new position in Automatic Data Processing in the 4th quarter valued at approximately $37,000. Banque de Luxembourg S.A. acquired a new position in shares of Automatic Data Processing in the fourth quarter worth $37,000. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Analyst Ratings Changes

ADP has been the subject of a number of analyst reports. UBS Group boosted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Barclays boosted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. StockNews.com downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. TD Securities boosted their price target on shares of Automatic Data Processing from $296.00 to $298.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Finally, Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing has a consensus rating of "Hold" and a consensus target price of $303.55.

Insider Buying and Selling

In related news, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares of the company's stock, valued at approximately $3,686,852.74. The trade was a 11.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Christopher D'ambrosio sold 478 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the sale, the vice president now directly owns 7,364 shares of the company's stock, valued at $2,158,682.96. This represents a 6.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,451 shares of company stock worth $743,024 in the last three months. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Stock Performance

ADP stock traded up $0.92 during mid-day trading on Friday, reaching $308.01. The company had a trading volume of 851,684 shares, compared to its average volume of 1,692,150. The stock's 50-day simple moving average is $297.34 and its two-hundred day simple moving average is $299.24. The stock has a market capitalization of $125.03 billion, a P/E ratio of 32.12, a P/E/G ratio of 3.62 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. During the same period in the previous year, the business earned $2.88 earnings per share. The company's revenue was up 5.7% on a year-over-year basis. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's payout ratio is 63.05%.

About Automatic Data Processing

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.