Automatic Data Processing (NASDAQ:ADP) CEO Carlos A. Rodriguez sold 24,791 shares of Automatic Data Processing stock in a transaction dated Wednesday, January 9th. The stock was sold at an average price of $131.47, for a total value of $3,259,272.77. Following the transaction, the chief executive officer now directly owns 130,281 shares in the company, valued at $17,128,043.07. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of NASDAQ:ADP opened at $131.65 on Friday. The stock has a market capitalization of $57.53 billion, a PE ratio of 30.26, a price-to-earnings-growth ratio of 2.00 and a beta of 0.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.03. Automatic Data Processing has a 1 year low of $107.61 and a 1 year high of $153.51.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 31st. The business services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.09. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.28 billion. Automatic Data Processing had a return on equity of 50.96% and a net margin of 12.71%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 EPS. On average, equities research analysts forecast that Automatic Data Processing will post 5.27 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.69. The ex-dividend date was Thursday, December 13th. Automatic Data Processing’s payout ratio is currently 72.64%.
Several large investors have recently made changes to their positions in ADP. Cerebellum GP LLC raised its stake in Automatic Data Processing by 1,376.9% during the 4th quarter. Cerebellum GP LLC now owns 192 shares of the business services provider’s stock worth $25,000 after buying an additional 179 shares during the period. Moody National Bank Trust Division acquired a new position in Automatic Data Processing during the 4th quarter worth approximately $37,000. Atlantic Trust LLC acquired a new position in Automatic Data Processing during the 2nd quarter worth approximately $104,000. Willingdon Wealth Management raised its stake in Automatic Data Processing by 328.5% during the 3rd quarter. Willingdon Wealth Management now owns 857 shares of the business services provider’s stock worth $129,000 after buying an additional 657 shares during the period. Finally, Almanack Investment Partners LLC. acquired a new position in Automatic Data Processing during the 3rd quarter worth approximately $136,000. 77.89% of the stock is currently owned by institutional investors.
Several research analysts have commented on the company. Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Tuesday. BMO Capital Markets cut their target price on Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating on the stock in a report on Thursday, November 1st. Citigroup lifted their target price on Automatic Data Processing from $137.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, November 1st. Jefferies Financial Group lifted their target price on Automatic Data Processing to $167.00 and gave the stock a “hold” rating in a report on Thursday, November 1st. Finally, Moffett Nathanson assumed coverage on Automatic Data Processing in a report on Thursday, October 4th. They set a “buy” rating and a $180.00 target price on the stock. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $151.87.
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About Automatic Data Processing
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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