Automatic Data Processing, Inc. (NASDAQ:ADP) VP Sells $290,447.16 in Stock

Automatic Data Processing, Inc. (NASDAQ:ADP) VP David Foskett sold 1,004 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $289.29, for a total value of $290,447.16. Following the completion of the transaction, the vice president now directly owns 5,958 shares in the company, valued at $1,723,589.82. The trade was a 14.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Automatic Data Processing Stock Up 1.2 %

NASDAQ:ADP opened at $291.89 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63. The stock’s fifty day simple moving average is $298.49 and its 200-day simple moving average is $277.85. The firm has a market capitalization of $118.93 billion, a P/E ratio of 31.15, a P/E/G ratio of 3.50 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 earnings per share. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Institutional Investors Weigh In On Automatic Data Processing

Hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $26,000. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing in the second quarter valued at about $27,000. Dunhill Financial LLC increased its holdings in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares in the last quarter. Hexagon Capital Partners LLC raised its position in shares of Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in shares of Automatic Data Processing during the 3rd quarter valued at about $35,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on ADP. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Mizuho increased their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. TD Cowen raised their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Royal Bank of Canada upped their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Finally, Barclays raised their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.