Automatic Data Processing (NASDAQ:ADP) Hits New 1-Year High at $261.85

Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $261.85 and last traded at $261.79, with a volume of 31861 shares. The stock had previously closed at $257.60.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ADP shares. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, November 17th. Barclays boosted their price objective on shares of Automatic Data Processing to $280.00 in a research report on Tuesday, August 9th. Morgan Stanley increased their target price on shares of Automatic Data Processing from $245.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, October 27th. Mizuho upped their price objective on shares of Automatic Data Processing from $250.00 to $257.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Finally, Cowen boosted their target price on Automatic Data Processing to $237.00 in a report on Thursday, October 27th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $240.55.

Automatic Data Processing Stock Up 0.2 %

The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $108.93 billion, a PE ratio of 36.32, a PEG ratio of 2.64 and a beta of 0.82. The firm’s fifty day moving average is $237.38 and its 200-day moving average is $230.36.

Automatic Data Processing (NASDAQ:ADPGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The business services provider reported $1.86 EPS for the quarter, beating the consensus estimate of $1.78 by $0.08. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.16 billion. Automatic Data Processing had a return on equity of 80.50% and a net margin of 17.93%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm earned $1.65 EPS. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 8.13 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 9th will be issued a dividend of $1.25 per share. The ex-dividend date is Thursday, December 8th. This represents a $5.00 dividend on an annualized basis and a yield of 1.90%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.04. Automatic Data Processing’s payout ratio is currently 57.54%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Laura G. Brown sold 252 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $228.35, for a total transaction of $57,544.20. Following the sale, the vice president now owns 6,016 shares of the company’s stock, valued at approximately $1,373,753.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Laura G. Brown sold 252 shares of Automatic Data Processing stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $228.35, for a total transaction of $57,544.20. Following the completion of the transaction, the vice president now owns 6,016 shares of the company’s stock, valued at approximately $1,373,753.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP James T. Sperduto sold 207 shares of the stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $242.34, for a total transaction of $50,164.38. Following the completion of the sale, the vice president now directly owns 8,535 shares in the company, valued at $2,068,371.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,091 shares of company stock valued at $23,026,905. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Automatic Data Processing

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hexagon Capital Partners LLC acquired a new stake in shares of Automatic Data Processing during the second quarter worth $26,000. Wellington Shields & Co. LLC purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth about $29,000. Cowa LLC acquired a new stake in Automatic Data Processing during the 3rd quarter worth approximately $34,000. Core Alternative Capital increased its position in shares of Automatic Data Processing by 761.1% in the first quarter. Core Alternative Capital now owns 155 shares of the business services provider’s stock worth $35,000 after acquiring an additional 137 shares in the last quarter. Finally, Castle Wealth Management LLC purchased a new position in shares of Automatic Data Processing in the 2nd quarter valued at $42,000. 79.06% of the stock is currently owned by hedge funds and other institutional investors.

About Automatic Data Processing

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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.

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