Automatic Data Processing (NASDAQ:ADP) CEO Carlos A. Rodriguez sold 69,899 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $112.29, for a total transaction of $7,848,958.71. Following the transaction, the chief executive officer now directly owns 161,085 shares of the company’s stock, valued at $18,088,234.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Automatic Data Processing (NASDAQ ADP) traded up $0.67 during trading on Friday, reaching $116.18. 1,451,124 shares of the company were exchanged, compared to its average volume of 2,204,226. Automatic Data Processing has a 1 year low of $95.50 and a 1 year high of $125.24. The firm has a market cap of $51,202.08, a PE ratio of 30.18, a P/E/G ratio of 2.52 and a beta of 0.86. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. Automatic Data Processing had a net margin of 13.47% and a return on equity of 43.28%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter last year, the company earned $0.87 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. sell-side analysts predict that Automatic Data Processing will post 4.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.52 dividend on an annualized basis and a yield of 2.17%. Automatic Data Processing’s dividend payout ratio is currently 65.45%.
A number of institutional investors have recently added to or reduced their stakes in the stock. HM Payson & Co. boosted its stake in Automatic Data Processing by 3.2% during the 4th quarter. HM Payson & Co. now owns 50,164 shares of the business services provider’s stock worth $5,879,000 after purchasing an additional 1,575 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Automatic Data Processing by 52.2% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 24,500 shares of the business services provider’s stock worth $2,871,000 after purchasing an additional 8,400 shares during the last quarter. Archford Capital Strategies LLC boosted its stake in Automatic Data Processing by 16.2% during the 4th quarter. Archford Capital Strategies LLC now owns 12,628 shares of the business services provider’s stock worth $1,480,000 after purchasing an additional 1,758 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Automatic Data Processing by 10.0% during the 4th quarter. Sterling Capital Management LLC now owns 82,471 shares of the business services provider’s stock worth $9,665,000 after purchasing an additional 7,483 shares during the last quarter. Finally, MEMBERS Trust Co acquired a new stake in Automatic Data Processing during the 4th quarter worth $228,000. 78.55% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on ADP shares. BidaskClub lowered shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 target price for the company in a report on Friday, January 5th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Automatic Data Processing in a report on Wednesday, November 15th. Royal Bank of Canada cut their target price on shares of Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating for the company in a report on Monday, November 6th. Finally, Citigroup reaffirmed a “neutral” rating and set a $118.00 target price (up from $110.00) on shares of Automatic Data Processing in a report on Friday, January 12th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $118.43.
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About Automatic Data Processing
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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