Flossbach Von Storch SE Sells 6,183 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Flossbach Von Storch SE trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 8.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in Automatic Data Processing by 34,655.1% during the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock worth $886,345,000 after acquiring an additional 2,892,660 shares during the last quarter. Norges Bank acquired a new position in Automatic Data Processing during the 4th quarter worth approximately $455,993,000. Winslow Capital Management LLC acquired a new position in Automatic Data Processing during the 4th quarter worth approximately $396,714,000. Capital Research Global Investors boosted its position 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 worth $1,796,415,000 after acquiring an additional 1,299,390 shares during the last quarter. Finally, Northern Trust Corp boosted its position 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 worth $1,807,438,000 after acquiring an additional 902,354 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ADP shares. Stifel Nicolaus increased their price objective on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Mizuho increased their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. UBS Group cut their price objective on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a report on Friday, June 13th. BMO Capital Markets started coverage on Automatic Data Processing in a report on Thursday. They issued a "market perform" rating and a $340.00 price objective for the company. Finally, Morgan Stanley increased their price objective on Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing has an average rating of "Hold" and an average price target of $309.62.

Automatic Data Processing Stock Performance

ADP stock traded down $2.58 during trading hours on Thursday, hitting $305.83. 386,380 shares of the stock were exchanged, compared to its average volume of 1,709,543. The firm has a market capitalization of $124.14 billion, a P/E ratio of 31.31, a P/E/G ratio of 2.81 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 company has a 50-day simple moving average of $312.88 and a two-hundred day simple moving average of $303.77.

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

Automatic Data Processing 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.