Skandinaviska Enskilda Banken AB publ Invests $7.64 Million in Automatic Data Processing (ADP)
Skandinaviska Enskilda Banken AB publ bought a new stake in Automatic Data Processing (NYSE:ADP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 74,647 shares of the business services provider’s stock, valued at approximately $7,643,000.
A number of other large investors also recently added to or reduced their stakes in ADP. Macquarie Group Ltd. increased its stake in Automatic Data Processing by 38.0% in the fourth quarter. Macquarie Group Ltd. now owns 22,900 shares of the business services provider’s stock valued at $2,353,000 after buying an additional 6,300 shares during the period. First National Bank of Omaha increased its stake in Automatic Data Processing by 22.3% in the first quarter. First National Bank of Omaha now owns 8,374 shares of the business services provider’s stock valued at $857,000 after buying an additional 1,529 shares during the period. Marathon Asset Management LLP increased its stake in Automatic Data Processing by 9.0% in the first quarter. Marathon Asset Management LLP now owns 370,072 shares of the business services provider’s stock valued at $38,086,000 after buying an additional 30,517 shares during the period. TNB Financial bought a new stake in Automatic Data Processing during the first quarter valued at approximately $582,000. Finally, Oakmont Partners LLC bought a new stake in Automatic Data Processing during the first quarter valued at approximately $1,005,000.
Automatic Data Processing (NYSE:ADP) traded up 1.164% during mid-day trading on Tuesday, reaching $110.967. The company had a trading volume of 2,883,863 shares. The stock’s 50-day moving average price is $106.50 and its 200 day moving average price is $102.66. The firm has a market capitalization of $49.31 billion and a PE ratio of 28.823. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77.
Automatic Data Processing (NYSE:ADP) last issued its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.02. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business earned $0.69 EPS. On average, equities research analysts predict that Automatic Data Processing will post $3.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a yield of 2.08%.
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Several research analysts have recently weighed in on ADP shares. Barclays PLC decreased their price target on Automatic Data Processing from $115.00 to $113.00 and set an “overweight” rating for the company in a research note on Tuesday, April 25th. Argus decreased their price target on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a research note on Wednesday, May 31st. Evercore ISI restated an “underperform” rating and issued a $85.00 price target on shares of Automatic Data Processing in a research note on Friday, June 2nd. Goldman Sachs Group, Inc. (The) cut Automatic Data Processing from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $115.00 to $108.00 in a research note on Tuesday, June 20th. Finally, Zacks Investment Research cut Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $104.96.
In related news, CEO Carlos A. Rodriguez sold 36,363 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $110.00, for a total value of $3,999,930.00. Following the completion of the transaction, the chief executive officer now owns 146,494 shares in the company, valued at approximately $16,114,340. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total value of $4,939,693.92. Following the completion of the transaction, the chief executive officer now owns 159,403 shares of the company’s stock, valued at approximately $15,941,894.03. The disclosure for this sale can be found here. Insiders sold a total of 90,620 shares of company stock valued at $9,435,757 in the last 90 days.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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