Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Lessened by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 54.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 83,458 shares of the business services provider’s stock after selling 98,293 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Automatic Data Processing were worth $19,921,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Keener Financial Planning LLC grew its position in Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares in the last quarter. Crewe Advisors LLC purchased a new position in Automatic Data Processing during the 1st quarter worth approximately $33,000. Pathway Financial Advisers LLC purchased a new position in Automatic Data Processing during the 1st quarter worth approximately $36,000. New Millennium Group LLC purchased a new position in Automatic Data Processing during the 2nd quarter worth approximately $40,000. Finally, Pineridge Advisors LLC purchased a new position in Automatic Data Processing during the 4th quarter worth approximately $39,000. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of several research analyst reports. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Finally, Bank of America boosted their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $265.36.

Automatic Data Processing Stock Down 0.5 %

ADP stock opened at $276.41 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $281.54. The company has a fifty day simple moving average of $264.76 and a 200 day simple moving average of $251.51. The firm has a market cap of $113.13 billion, a PE ratio of 30.85, a PEG ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the business earned $1.89 EPS. Automatic Data Processing’s quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is 62.50%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock valued at $15,999,208 in the last quarter. Insiders own 0.26% of the company’s stock.

About Automatic Data Processing

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.