Allianz SE Decreases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Allianz SE has reduced its stake in Automatic Data Processing, Inc. by 5.4% during the first quarter, now holding 35,655 shares valued at approximately $10.89 million.
• Institutional ownership of Automatic Data Processing is high, with 80.03% of the stock owned by hedge funds and institutional investors.
• ADP reported earnings of $2.26 EPS for its last quarter, exceeding estimates by $0.03, along with a year-over-year revenue increase of 6.3%.

Allianz SE trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 5.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,655 shares of the business services provider's stock after selling 2,040 shares during the period. Allianz SE's holdings in Automatic Data Processing were worth $10,894,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Sentinus LLC raised its stake in Automatic Data Processing by 2.3% in the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after purchasing an additional 35 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in Automatic Data Processing by 1.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock worth $1,079,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC raised its stake in Automatic Data Processing by 2.4% in the 1st quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider's stock worth $478,000 after purchasing an additional 37 shares in the last quarter. Main Street Group LTD increased its position in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after purchasing an additional 38 shares in the last quarter. Finally, Howard Financial Services LTD. increased its position in Automatic Data Processing by 2.2% during the 1st quarter. Howard Financial Services LTD. now owns 1,735 shares of the business services provider's stock worth $530,000 after purchasing an additional 38 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADP has been the subject of a number of research analyst reports. Royal Bank Of Canada reiterated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. UBS Group reduced their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a report on Friday, June 13th. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a report on Thursday. TD Securities boosted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Finally, Mizuho upped their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $314.33.

Automatic Data Processing Trading Down 2.9%

ADP stock opened at $300.44 on Friday. The company has a market capitalization of $121.95 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 2.75 and a beta of 0.81. Automatic Data Processing, Inc. has a one year low of $256.47 and a one year high of $329.93. The company's 50 day moving average price is $310.28 and its two-hundred day moving average price is $305.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period last year, the firm posted $2.09 earnings per share. The business's revenue was up 6.3% compared to the same quarter last year. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.