Automatic Data Processing, Inc. $ADP Position Cut by Munich Reinsurance Co Stock Corp in Munich

Munich Reinsurance Co Stock Corp in Munich significantly reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 95.7% in Q4, selling 22,541 shares and retaining 1,013 shares valued at $263,000. Despite this, ADP reported strong Q4 earnings, surpassing analyst estimates with $2.62 EPS and $5.36 billion revenue, and announced a $6 billion stock buyback and a quarterly dividend of $1.70. Analysts currently maintain a “Hold” rating on ADP with an average target price of $273.85.

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