Automatic Data Processing, Inc. (NASDAQ:ADP - Get Free Report) VP Brian Michaud sold 120 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the completion of the transaction, the vice president owned 18,442 shares in the company, valued at approximately $5,158,227.40. This represents a 0.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Automatic Data Processing Stock Up 0.8%
Automatic Data Processing stock opened at $283.01 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $307.80. The firm has a market cap of $112.43 billion, a price-to-earnings ratio of 25.87 and a beta of 0.81. The stock has a fifty day simple moving average of $250.86 and a two-hundred day simple moving average of $226.50.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same period last year, the company earned $2.26 EPS. Automatic Data Processing's revenue for the quarter was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.
Automatic Data Processing Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing's dividend payout ratio (DPR) is presently 62.16%.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of ADP. California State Teachers Retirement System boosted its position in Automatic Data Processing by 22,166.8% during the second quarter. California State Teachers Retirement System now owns 140,971,822 shares of the business services provider's stock worth $31,570,640,000 after purchasing an additional 140,338,719 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth approximately $8,097,229,000. Bank of America Corp DE purchased a new position in shares of Automatic Data Processing during the 2nd quarter valued at approximately $1,231,175,000. Deutsche Bank AG purchased a new position in shares of Automatic Data Processing during the 2nd quarter valued at approximately $994,937,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Automatic Data Processing by 6,493.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider's stock valued at $892,120,000 after acquiring an additional 3,415,576 shares during the period. Institutional investors own 80.03% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Automatic Data Processing from $248.00 to $283.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. UBS Group raised their target price on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a "neutral" rating in a research note on Wednesday, July 22nd. Robert W. Baird reduced their price objective on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Stifel Nicolaus upped their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the stock a "hold" rating in a report on Thursday, July 30th. Finally, Cantor Fitzgerald boosted their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $273.50.
Get Our Latest Analysis on ADP
About Automatic Data Processing
(
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Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.
ADP's product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.
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