Deutsche Bank AG Acquires Shares of 4,442,676 Automatic Data Processing, Inc. $ADP

Deutsche Bank AG bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,442,676 shares of the business services provider’s stock, valued at approximately $994,937,000.

Other large investors have also modified their holdings of the company. Imprint Wealth LLC purchased a new position in Automatic Data Processing in the 3rd quarter worth approximately $25,000. Cornerstone Financial Management LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $26,000. Bard Associates Inc. purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC raised its stake in shares of Automatic Data Processing by 2,740.0% during the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 137 shares during the period. Finally, Prosperity Bancshares Inc acquired a new position in shares of Automatic Data Processing during the fourth quarter worth $33,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $266.06 on Tuesday. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $310.08. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The stock has a market cap of $105.69 billion, a P/E ratio of 24.32 and a beta of 0.81. The stock has a 50 day moving average of $245.82 and a 200-day moving average of $225.35.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The business had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, analysts expect that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a $1.70 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.6%. Automatic Data Processing’s payout ratio is presently 62.16%.

Wall Street Analyst Weigh In

ADP has been the subject of several analyst reports. Guggenheim upped their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Stifel Nicolaus upped their price objective on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research report on Thursday, July 30th. Wells Fargo & Company raised their target price on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Finally, TD Cowen lifted their target price on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $273.50.

Insider Activity

In other news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $265.62, for a total value of $641,206.68. Following the sale, the vice president owned 9,660 shares in the company, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Profile

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.