Automatic Data Processing, Inc. (NASDAQ:ADP) shares sold by Assenagon Asset Management SA
Assenagon Asset Management SA reduced its stake in Automatic Data Processing, Inc. (NASDAQ: ADP – Get a rating) by 83.5% in the first quarter, HoldingsChannel.com reports. The company held 15,649 shares of the business services provider after selling 79,224 shares during the period. Assenagon Asset Management SA’s holdings in automatic data processing were worth $3,561,000 when it was last filed with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also increased or reduced their stake in the company. Kovitz Investment Group Partners LLC acquired a new position in automatic data processing in the first quarter at a value of $6,772,000. Coerente Capital Management increased its stake in Automatic Data Processing shares by 0.5% during the first quarter. Coerente Capital Management now owns 130,179 shares of the business services provider valued at $29,620,000 after acquiring an additional 638 shares during the period. CVA Family Office LLC increased its shareholding in Automatic Data Processing by 57.3% during the first quarter. CVA Family Office LLC now owns 700 shares of the business services provider valued at $159,000 after acquiring an additional 255 shares during the period. Exane Derivatives increased its stake in Automatic Data Processing shares by 4,750.0% during the first quarter. Exane Derivatives now owns 194 shares of the business services provider valued at $44,000 after acquiring an additional 190 shares during the period. Finally, Hanson & Doremus Investment Management increased its holding in Automatic Data Processing shares by 4.5% during the first quarter. Hanson & Doremus Investment Management now owns 1,347 shares of the business services provider valued at $306,000 after acquiring 58 additional shares during the period. 78.84% of the shares are held by hedge funds and other institutional investors.
Shares of Automatic data processing stock opened at $214.89 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt ratio of 0.71. The company’s 50-day moving average price is $213.66 and its two-hundred-day moving average price is $217.58. Automatic Data Processing, Inc. has a 52 week low of $192.26 and a 52 week high of $248.96. The stock has a market capitalization of $89.77 billion, a PE ratio of 31.74, a price-to-growth earnings ratio of 2.33 and a beta of 0.81.
Automatic data processing (NASDAQ: ADP – Get a rating) last released its quarterly results on Wednesday, April 27. The business services provider reported earnings per share of $2.21 for the quarter, beating analyst consensus estimates of $2.07 by $0.14. The company posted revenue of $4.51 billion for the quarter, versus $4.45 billion expected by analysts. Automatic Data Processing had a return on equity of 56.01% and a net margin of 17.77%. Automatic data processing revenue increased 10.0% year-on-year. In the same quarter last year, the company posted EPS of $1.89. On average, stock analysts predict Automatic Data Processing, Inc. will post EPS of 6.98 for the current fiscal year.
In other news on automatic data processing, VP Christopher D’Ambrosio sold 312 shares of Automatic Data Processing in a trade dated Monday, May 9. The stock was sold at an average price of $214.07, for a total transaction of $66,789.84. Following the transaction, the vice president now owns 1,663 shares of the company, valued at approximately $355,998.41. The transaction was disclosed in an SEC filing, available at this hyperlink. Also, Vice President Augusto J. Blanchard sold 567 shares of Automatic Data Processing in a trade dated Tuesday, July 5. The shares were sold at an average price of $210.64, for a total value of $119,432.88. As a result of the transaction, the vice president now directly owns 4,238 shares of the company, valued at approximately $892,692.32. Disclosure of this sale can be found here. Insiders of the company hold 0.34% of the shares of the company.
Several brokerages have recently released reports on ADP. Citigroup raised its price target on automatic data processing shares from $212.00 to $230.00 in a Monday, May 2 report. Barclays raised its price target on automatic data processing shares from $238.00 to $257.00 and gave the company an “overweight” rating in a Monday May 2 research note. StockNews.com began covering automatic data processing stocks in a research note on Thursday, March 31. They have placed a “holding” rating on the stock. Mizuho raised its price target on automatic data processing stock from $235.00 to $250.00 and gave the company a “buy” rating in a Monday, May 2 research note. Finally, Deutsche Bank Aktiengesellschaft raised its price target on automatic data processing shares from $203.00 to $234.00 in a Thursday, April 28 research note. One investment analyst gave the stock a sell rating, ten gave the company a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $230.69.
Automatic Data Processing Company Profile (Get a rating)
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic cloud-based platforms and human resource (HR) outsourcing solutions.
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