Flossbach Von Storch SE Reduces Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Flossbach Von Storch SE cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 8.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,509 shares of the business services provider's stock after selling 6,183 shares during the quarter. Flossbach Von Storch SE's holdings in Automatic Data Processing were worth $19,709,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ADP. Vanguard Group Inc. increased its stake in Automatic Data Processing by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider's stock valued at $11,923,265,000 after purchasing an additional 277,324 shares in the last quarter. Geode Capital Management LLC increased its stake in Automatic Data Processing by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider's stock valued at $3,098,305,000 after purchasing an additional 65,965 shares in the last quarter. Northern Trust Corp increased its stake in Automatic Data Processing by 17.1% during the 4th quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock valued at $1,807,438,000 after purchasing an additional 902,354 shares in the last quarter. Capital Research Global Investors increased its stake in Automatic Data Processing by 26.9% during the 4th 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 purchasing an additional 1,299,390 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Automatic Data Processing by 6.0% during the 4th quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider's stock valued at $1,137,710,000 after purchasing an additional 219,032 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president owned 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by insiders.

Automatic Data Processing Trading Up 0.5%

Shares of ADP traded up $1.51 during trading hours on Wednesday, reaching $308.41. 1,359,599 shares of the company traded hands, compared to its average volume of 1,713,758. The firm has a market cap of $125.19 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 2.87 and a beta of 0.76. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $329.93. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock's fifty day moving average price is $312.72 and its 200 day moving average price is $303.73.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The firm's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.88 earnings per share. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADP. UBS Group reduced their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research note on Friday, June 13th. Morgan Stanley raised their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Tuesday, June 17th. Stifel Nicolaus raised their price target on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Mizuho raised their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Finally, TD Securities raised their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $307.08.

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.