Institutional Investors Accumulate Stake in Automatic Data Processing
What happened
During the second quarter, several institutional investors purchased new stakes in Automatic Data Processing, Inc. These purchases included Bank of America Corp DE, Deutsche Bank AG, Bank of New York Mellon Corp, Legal & General Group Plc, and BlackRock Inc. Sanders Morris Harris LLC also acquired a new stake during the third quarter, valued at approximately $590,000.
From tickerreport.com
Why it matters
The accumulation of shares by major funds indicates significant institutional confidence in Automatic Data Processing. Institutional investors and hedge funds currently own 80.03% of the company’s stock, and the firm has a market capitalization of $111.08 billion.
From tickerreport.com
Who's involved
- Automatic Data ProcessingAmerican human resources management software company
- Maria BlackCEO of Automatic Data Processing
- NasdaqAmerican fully electronic stock exchange where Automatic Data Processing trades
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The entities involved
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Automatic Data Processing
American human resources management software company
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Maria Black
CEO of ADP
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Nasdaq
American fully electronic stock exchange
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