Automatic Data Processing, Inc. (NASDAQ:ADP - Get Free Report) VP Virginia Magliulo sold 2,927 shares of the business's stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $293.70, for a total value of $859,659.90. Following the completion of the transaction, the vice president directly owned 14,865 shares of the company's stock, valued at approximately $4,365,850.50. This trade represents a 16.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Automatic Data Processing Price Performance
ADP opened at $298.78 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.05 and a current ratio of 1.03. The stock has a market capitalization of $118.39 billion, a P/E ratio of 24.92, a P/E/G ratio of 2.58 and a beta of 0.83. The company's 50-day simple moving average is $277.61 and its two-hundred day simple moving average is $241.03. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $309.40.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.77 by $0.05. Automatic Data Processing had a net margin of 20.33% and a return on equity of 77.01%. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter last year, the firm posted $2.49 EPS. The business's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, analysts predict that Automatic Data Processing, Inc. will post 12.36 EPS for the current year.
Automatic Data Processing Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were given a dividend of $1.70 per share. The ex-dividend date was Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a yield of 2.3%. Automatic Data Processing's dividend payout ratio is 60.28%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald raised their target price on shares of Automatic Data Processing from $310.00 to $336.00 and gave the stock an "overweight" rating in a report on Friday. Weiss Ratings upgraded shares of Automatic Data Processing from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, September 22nd. Jefferies Financial Group increased their price target on Automatic Data Processing from $225.00 to $250.00 and gave the company an "underperform" rating in a report on Wednesday, October 28th. UBS Group increased their price target on Automatic Data Processing from $260.00 to $270.00 and gave the company a "neutral" rating in a report on Wednesday, July 22nd. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $290.00 price target on shares of Automatic Data Processing in a research note on Thursday, October 29th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $285.00.
Check Out Our Latest Stock Report on ADP
Hedge Funds Weigh In On Automatic Data Processing
Institutional investors have recently made changes to their positions in the business. Polaris Financial Partners bought a new stake in Automatic Data Processing during the third quarter valued at approximately $25,000. Next Level Wealth Planning LLC purchased a new stake in Automatic Data Processing during the third quarter valued at approximately $26,000. Whipplewood Advisors LLC increased its holdings in Automatic Data Processing by 2,740.0% during the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider's stock valued at $29,000 after buying an additional 137 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in Automatic Data Processing in the second quarter worth approximately $34,000. Finally, Cornerstone Financial Management LLC raised its position in Automatic Data Processing by 59.2% in the second quarter. Cornerstone Financial Management LLC now owns 156 shares of the business services provider's stock worth $35,000 after acquiring an additional 58 shares during the period. Institutional investors own 80.03% of the company's stock.
Automatic Data Processing Company Profile
(
Get Free Report)
Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.
ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.
Founded in 1949, ADP serves businesses in the United States and international markets.
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