Automatic Data Processing, Inc. (NASDAQ:ADP – Get Free Report) VP David Kwon sold 798 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $280.00, for a total value of $223,440.00. Following the sale, the vice president directly owned 13,193 shares in the company, valued at approximately $3,694,040. The trade was a 5.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
David Kwon also recently made the following trade(s):
- On Thursday, July 30th, David Kwon sold 2,414 shares of Automatic Data Processing stock. The shares were sold at an average price of $265.62, for a total value of $641,206.68.
Automatic Data Processing Stock Down 0.5%
ADP opened at $281.39 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $111.79 billion, a PE ratio of 25.72 and a beta of 0.81. The stock’s fifty day moving average is $253.33 and its 200-day moving average is $227.18. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $305.31.
Automatic Data Processing Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is presently 62.16%.
Institutional Investors Weigh In On Automatic Data Processing
Several hedge funds have recently made changes to their positions in the company. Thrive Wealth Management LLC raised its stake in shares of Automatic Data Processing by 3.5% in the 2nd quarter. Thrive Wealth Management LLC now owns 1,085 shares of the business services provider’s stock valued at $243,000 after buying an additional 37 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Automatic Data Processing by 2.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,895 shares of the business services provider’s stock valued at $488,000 after acquiring an additional 45 shares in the last quarter. Nordwand Advisors LLC boosted its position in shares of Automatic Data Processing by 1.5% during the 4th quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider’s stock valued at $824,000 after acquiring an additional 47 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in Automatic Data Processing by 1.7% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock valued at $716,000 after acquiring an additional 47 shares during the period. Finally, Guardian Partners Inc. increased its stake in Automatic Data Processing by 0.9% in the first quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock valued at $1,044,000 after acquiring an additional 47 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on ADP shares. TD Cowen boosted their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Citigroup lifted their price target on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Morgan Stanley boosted their target price on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, UBS Group upped their target price on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average target price of $273.50.
View Our Latest Analysis on ADP
About Automatic Data Processing
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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