Automatic Data Processing (NASDAQ:ADP) VP Brian L. Michaud sold 250 shares of Automatic Data Processing stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $148.00, for a total value of $37,000.00. Following the completion of the sale, the vice president now owns 6,112 shares of the company’s stock, valued at $904,576. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Automatic Data Processing stock opened at $150.58 on Tuesday. Automatic Data Processing has a 12-month low of $103.11 and a 12-month high of $182.32. The firm has a market capitalization of $64.73 billion, a price-to-earnings ratio of 26.42, a P/E/G ratio of 2.45 and a beta of 0.76. The firm has a 50 day moving average of $138.32 and a 200 day moving average of $141.11. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.17.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.18. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. Automatic Data Processing had a net margin of 16.91% and a return on equity of 46.66%. The company’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 earnings per share. On average, analysts predict that Automatic Data Processing will post 5.01 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were paid a $0.91 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $3.64 dividend on an annualized basis and a yield of 2.42%. Automatic Data Processing’s payout ratio is presently 61.49%.
Several institutional investors have recently made changes to their positions in the company. APG Asset Management N.V. boosted its position in shares of Automatic Data Processing by 97.0% during the first quarter. APG Asset Management N.V. now owns 588,720 shares of the business services provider’s stock worth $80,466,000 after acquiring an additional 289,810 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Automatic Data Processing by 6.3% during the 2nd quarter. Park Avenue Securities LLC now owns 3,368 shares of the business services provider’s stock valued at $502,000 after purchasing an additional 200 shares during the last quarter. Financial Management Professionals Inc. grew its position in shares of Automatic Data Processing by 28,100.0% during the second quarter. Financial Management Professionals Inc. now owns 282 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 281 shares in the last quarter. Deltec Asset Management LLC increased its holdings in shares of Automatic Data Processing by 125.3% in the second quarter. Deltec Asset Management LLC now owns 20,391 shares of the business services provider’s stock worth $3,036,000 after purchasing an additional 11,340 shares during the last quarter. Finally, Cigna Investments Inc. New lifted its position in shares of Automatic Data Processing by 66.4% in the second quarter. Cigna Investments Inc. New now owns 21,199 shares of the business services provider’s stock worth $3,156,000 after buying an additional 8,458 shares in the last quarter. Institutional investors and hedge funds own 78.77% of the company’s stock.
ADP has been the subject of several research reports. Wolfe Research cut shares of Automatic Data Processing from a “market perform” rating to an “underperform” rating in a report on Thursday, July 30th. Citigroup lowered their price target on Automatic Data Processing from $148.00 to $144.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Goldman Sachs Group began coverage on Automatic Data Processing in a research note on Tuesday, July 14th. They issued a “sell” rating and a $146.00 price target on the stock. JPMorgan Chase & Co. increased their target price on Automatic Data Processing from $138.00 to $151.00 and gave the company a “neutral” rating in a report on Monday, August 17th. Finally, BidaskClub raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Wednesday, October 7th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company’s stock. Automatic Data Processing has a consensus rating of “Hold” and an average target price of $155.67.
Automatic Data Processing Company Profile
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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