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Bank of Nova Scotia significantly increased its ADP shares by 117.8%, investing over $206 million in the company.
Bank of Nova Scotia increased its stake in Automatic Data Processing (ADP) by buying 380,834 more shares, totaling 704,099 shares worth around $206 million, marking a significant 117.8% rise.
ADP beat earnings expectations with $2.35 per share, slightly higher than the $2.30 analysts forecasted.
The company, valued at $114.59 billion, offers cloud-based HR solutions and has a price-to-earnings ratio of 29.32.
Analysts predict ADP to report earnings of 9.93 per share for the current year, with a consensus price target of $302.30.
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Bank of Nova Scotia aumentó significativamente sus acciones de ADP en un 117,8%, invirtiendo más de $206 millones en la compañía.