Automatic Data Processing, Inc. (NASDAQ:ADP – Get Free Report) VP Virginia Magliulo sold 2,927 shares of the firm’s stock in a transaction on 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 sale, the vice president directly owned 14,865 shares of the company’s stock, valued at $4,365,850.50. The trade was a 16.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Automatic Data Processing Trading Up 1.7%
NASDAQ:ADP traded up $4.94 during trading hours on Monday, hitting $298.78. The company had a trading volume of 2,484,083 shares, compared to its average volume of 2,845,797. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.03 and a quick ratio of 1.05. The stock has a 50-day moving average price of $277.25 and a 200 day moving average price of $240.83. The company has a market capitalization of $118.39 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 2.64 and a beta of 0.83. 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 issued its quarterly earnings data on Wednesday, October 28th. The business services provider reported $2.82 EPS for the quarter, topping the consensus estimate 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 business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same period in the prior year, the business earned $2.49 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 12.36 EPS for the current fiscal year.
Automatic Data Processing Announces Dividend
The business also recently declared 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 annualized dividend and a dividend yield of 2.3%. Automatic Data Processing’s payout ratio is currently 60.28%.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Guggenheim restated a “buy” rating and issued a $340.00 price objective on shares of Automatic Data Processing in a report on Thursday. TD Cowen upped their price target on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. BMO Capital Markets increased their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Citigroup raised their price objective on Automatic Data Processing from $287.00 to $295.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $290.00 target price on shares of Automatic Data Processing in a report on Thursday. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $285.00.
View Our Latest Research Report on Automatic Data Processing
Institutional Investors Weigh In On Automatic Data Processing
A number of hedge funds and other institutional investors have recently bought and sold shares of ADP. Northwestern Mutual Wealth Management Co. acquired a new stake in Automatic Data Processing during the 2nd quarter worth about $13,283,000. Royal Capital Wealth Management LLC acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at about $1,226,000. Canada Pension Plan Investment Board purchased a new stake in shares of Automatic Data Processing in the second quarter worth about $152,706,000. Fulton Bank N.A. boosted its stake in shares of Automatic Data Processing by 192.0% in the second quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock worth $1,605,000 after buying an additional 4,711 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Automatic Data Processing in the second quarter worth about $1,231,175,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.
About Automatic Data Processing
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.
Read More
- Five stocks we like better than Automatic Data Processing
- AbbVie’s Humira Era Is Fading, But Its New Growth Engines Face Another Test
- GLP-1 Focus or Broader Peptide Exposure: Which ETF Has the Edge?
- Mortgage Rates Froze U.S. Housing, But These 3 Overseas Markets Still Pay Double Digits
- Big Tech Is Spending Billions on AI—These 5 Stocks Are Getting Paid
Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.
-logo-1200x675.jpg){kind=logo}