October 13, 2020

Automatic Data Processing (NASDAQ:ADP) VP Sells $37,000.00 in Stock

Automatic Data Processing (NASDAQ:ADP) VP Sells $37,000.00 in Stock


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.

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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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Automatic Data Processing (NASDAQ:ADP) VP Sells $37,000.00 in Stock

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5 Oil Stocks That May Not Survive the Current Crisis

What would you think of the long-term prospects of a business that paid you to buy their products? That’s an oversimplification of what occurred to the May futures contract for oil on April 20. The price for that contract sold for a negative price for the first time in history.

The crisis befalling the oil companies at this time can best be described as “only the strongest survive.” There’s just no way the oil companies can possibly handle month after month of rock-bottom oil prices.

The problem is almost comically simple to understand. There is a massively reduced demand for oil as millions of Americans are following mitigation orders ranging from social distancing guidelines to more restrictive shelter in place orders. At the same time, the market is trying to absorb the oversupply of oil that came from Russia and Saudi Arabia.

However, when the year started, things looked like it might be business as usual for oil producers. The U.S. economy was humming along and there was talk that the second half of the year might finally bring the boost to oil prices that many companies badly needed.

However, since the middle of February, the bottom has dropped out of the market in general, and oil prices have been one of the main sectors to feel the impact.

Initially, investors tried to remain optimistic. A month ago, investors thought that the economy might be reopening sooner rather than later. However, the exact timing of the reopening is about as fluid as a barrel of oil. And with it looking more likely that there will be more demand destruction at least through May, there’s very little to prop up the stock of any oil companies.

And that means that, in all likelihood, there will not be room left for some oil companies. We’ve highlighted five oil stocks that have a strong probability of not surviving the chaos surrounding the coronavirus and our nation’s response.

View the “5 Oil Stocks That May Not Survive the Current Crisis”.



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