Automatic Data Processing, Inc. (NASDAQ:ADP) VP Sells $106,366.46 in Stock

Automatic Data Processing, Inc. (NASDAQ:ADP) VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % 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 Trading Up 0.7 %

Automatic Data Processing stock opened at $291.69 on Monday. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $309.63. The stock has a market cap of $118.85 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50-day moving average of $298.43 and a two-hundred day moving average of $277.08.

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

Automatic Data Processing Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were issued a dividend of $1.54 per share. The ex-dividend date of this dividend was Friday, December 13th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.11%. Automatic Data Processing’s payout ratio is 65.74%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Citigroup lifted their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. TD Cowen upped their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Mizuho increased their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Barclays boosted their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, UBS Group increased their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $289.91.

Hedge Funds Weigh In On Automatic Data Processing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Automatic Data Processing in the third quarter worth about $26,000. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing in the 2nd quarter worth approximately $27,000. Dunhill Financial LLC raised its position in Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 51 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

About Automatic Data Processing

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.