Automatic Data Processing, Inc. $ADP Shares Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,863 shares of the business services provider’s stock after selling 27,682 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Automatic Data Processing were worth $29,439,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ADP. BlackRock Inc. bought a new position in shares of Automatic Data Processing in the 2nd quarter worth $8,097,229,000. Bank of America Corp DE bought a new stake in Automatic Data Processing during the second quarter valued at about $1,231,175,000. Deutsche Bank AG bought a new stake in Automatic Data Processing during the second quarter valued at about $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Automatic Data Processing by 3.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock valued at $952,112,000 after purchasing an additional 129,376 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Automatic Data Processing in the second quarter valued at about $725,513,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on ADP shares. Morgan Stanley boosted their target price on shares of Automatic Data Processing from $286.00 to $288.00 and gave the stock an “equal weight” rating in a report on Thursday, October 29th. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $225.00 to $250.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 28th. Wells Fargo & Company increased their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Weiss Ratings raised shares of Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $290.00 price target on shares of Automatic Data Processing in a research note on Thursday, October 29th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $285.00.

Insider Buying and Selling

In other Automatic Data Processing news, CEO Maria Black sold 29,810 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the completion of the transaction, the chief executive officer directly owned 80,624 shares of the company’s stock, valued at approximately $22,648,087.84. This trade represents a 26.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Virginia Magliulo sold 2,927 shares of the stock in a transaction on Friday, October 30th. The stock was sold at an average price of $293.70, for a total transaction of $859,659.90. Following the completion of the sale, the vice president owned 14,865 shares in the company, valued at $4,365,850.50. The trade was a 16.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 50,207 shares of company stock worth $14,522,300 in the last quarter. 0.15% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Performance

Shares of ADP opened at $309.93 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50-day moving average of $281.38 and a two-hundred day moving average of $243.13. The stock has a market cap of $122.35 billion, a P/E ratio of 26.89, a P/E/G ratio of 2.76 and a beta of 0.77. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $311.89.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 28th. The business services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. Automatic Data Processing had a return on equity of 77.01% and a net margin of 20.33%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same period in the prior year, the company earned $2.49 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. As a group, research analysts predict that Automatic Data Processing, Inc. will post 12.38 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 11th will be issued a $1.90 dividend. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.70. The ex-dividend date is Friday, December 11th. This represents a $7.60 annualized dividend and a yield of 2.5%. Automatic Data Processing’s dividend payout ratio is currently 60.28%.

About Automatic Data Processing

Automatic Data Processing, Inc. (ADP) provides payroll processing and human resources technology and services to businesses of varying sizes. Its offerings include payroll administration, tax filing, benefits administration, workforce management, talent management, and human capital management software. ADP also provides services such as compliance support and professional employer organization solutions, which help businesses manage employment responsibilities. Its products combine software with payroll and HR services to support organizations’ workforce operations.