Deutsche Bank AG Purchases 25,333 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Deutsche Bank AG increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0%, owning approximately 2.66 million shares worth $813.9 million as of the latest filing.
• Automatic Data Processing reported a quarterly earnings per share of $2.26, exceeding analysts’ expectations of $2.23, with revenue of $5.13 billion reflecting a 6.3% year-over-year growth.
• The company announced a quarterly dividend of $1.54 per share, with a yield of 2.0%, scheduled for payment on October 1st.

Deutsche Bank AG grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,663,879 shares of the business services provider's stock after buying an additional 25,333 shares during the quarter. Deutsche Bank AG owned 0.66% of Automatic Data Processing worth $813,895,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of Automatic Data Processing by 34,655.1% in the first quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock valued at $886,345,000 after acquiring an additional 2,892,660 shares in the last quarter. Winslow Capital Management LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at about $396,714,000. Capital Research Global Investors grew its stake in shares of Automatic Data Processing by 26.9% in the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock valued at $1,796,415,000 after acquiring an additional 1,299,390 shares in the last quarter. Northern Trust Corp grew its stake in shares of Automatic Data Processing by 17.1% in the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock valued at $1,807,438,000 after acquiring an additional 902,354 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Automatic Data Processing by 128.1% in the first quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider's stock valued at $484,480,000 after acquiring an additional 890,440 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Trading Down 0.6%

NASDAQ:ADP traded down $1.82 during trading hours on Monday, hitting $303.99. The company had a trading volume of 377,825 shares, compared to its average volume of 1,744,358. The company has a market capitalization of $123.13 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.80 and a beta of 0.81. The stock has a 50-day moving average price of $308.13 and a 200 day moving average price of $305.54. Automatic Data Processing, Inc. has a 52 week low of $258.63 and a 52 week high of $329.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.03. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. Automatic Data Processing's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 EPS. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a $1.54 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a yield of 2.0%. Automatic Data Processing's payout ratio is 61.72%.

Analysts Set New Price Targets

ADP has been the topic of several analyst reports. BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a research report on Thursday, July 10th. Mizuho increased their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Finally, UBS Group reduced their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research note on Friday, June 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $314.33.

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.