Automatic Data Processing (NASDAQ:ADP) VP Brock Albinson sold 6,683 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $167.87, for a total value of $1,121,875.21. Following the transaction, the vice president now directly owns 6,302 shares of the company’s stock, valued at $1,057,916.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
ADP traded up $0.16 on Friday, reaching $160.57. 282,968 shares of the stock were exchanged, compared to its average volume of 1,601,119. The firm has a market capitalization of $71.31 billion, a PE ratio of 29.46, a PEG ratio of 2.05 and a beta of 0.90. The company’s 50-day moving average price is $167.45 and its 200 day moving average price is $162.56. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing has a fifty-two week low of $121.40 and a fifty-two week high of $174.50.
Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.01. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. The business had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.16 annualized dividend and a dividend yield of 1.97%. Automatic Data Processing’s dividend payout ratio is presently 57.98%.
ADP has been the topic of several recent analyst reports. Barclays increased their price target on Automatic Data Processing from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Cowen initiated coverage on Automatic Data Processing in a report on Wednesday. They issued an “outperform” rating and a $195.00 price target on the stock. ValuEngine downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Robert W. Baird raised their price objective on Automatic Data Processing from $167.00 to $178.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Automatic Data Processing has a consensus rating of “Hold” and an average target price of $176.10.
Several institutional investors have recently made changes to their positions in the stock. Comerica Securities Inc. raised its holdings in shares of Automatic Data Processing by 411.2% in the fourth quarter. Comerica Securities Inc. now owns 42,538 shares of the business services provider’s stock valued at $5,611,000 after purchasing an additional 34,216 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Automatic Data Processing by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,299,268 shares of the business services provider’s stock worth $170,354,000 after buying an additional 49,730 shares during the last quarter. Geode Capital Management LLC increased its holdings in Automatic Data Processing by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 6,258,804 shares of the business services provider’s stock worth $819,520,000 after buying an additional 496,843 shares during the last quarter. SG Americas Securities LLC increased its holdings in Automatic Data Processing by 621.5% during the first quarter. SG Americas Securities LLC now owns 13,275 shares of the business services provider’s stock worth $2,121,000 after buying an additional 11,435 shares during the last quarter. Finally, Opus Capital Group LLC increased its holdings in Automatic Data Processing by 78.6% during the first quarter. Opus Capital Group LLC now owns 2,797 shares of the business services provider’s stock worth $447,000 after buying an additional 1,231 shares during the last quarter. Hedge funds and other institutional investors own 80.22% of the company’s stock.
About Automatic Data Processing
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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