Automatic Data Processing (ADP) Short Interest Down 22.9% in December

Automatic Data Processing (NASDAQ:ADP) saw a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 4,672,616 shares, a drop of 22.9% from the November 30th total of 6,057,261 shares. Based on an average daily volume of 2,085,707 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.1% of the shares of the company are sold short.

Several equities research analysts have recently issued reports on ADP shares. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Saturday, September 9th. Royal Bank of Canada restated a “hold” rating and issued a $95.00 price objective on shares of Automatic Data Processing in a research note on Friday, September 15th. Zacks Investment Research upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Stifel Nicolaus restated a “hold” rating and issued a $108.00 price objective on shares of Automatic Data Processing in a research note on Wednesday, October 4th. Finally, Bank of America raised their price objective on shares of Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $114.14.

Shares of Automatic Data Processing (NASDAQ:ADP) opened at $118.37 on Friday. Automatic Data Processing has a 52 week low of $94.11 and a 52 week high of $121.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $52,500.00, a price-to-earnings ratio of 30.04, a price-to-earnings-growth ratio of 2.87 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 13.04% and a return on equity of 40.61%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. equities analysts forecast that Automatic Data Processing will post 3.91 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Friday, December 8th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $2.52 dividend on an annualized basis and a yield of 2.13%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s payout ratio is currently 63.96%.

In other news, insider Michael A. Bonarti sold 3,900 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $116.03, for a total value of $452,517.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John P. Jones III sold 5,688 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total transaction of $659,978.64. Following the completion of the sale, the director now owns 53,956 shares in the company, valued at approximately $6,260,514.68. The disclosure for this sale can be found here. In the last three months, insiders sold 11,863 shares of company stock worth $1,376,464. Insiders own 0.25% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC boosted its stake in shares of Automatic Data Processing by 37.2% in the 1st quarter. Lazard Asset Management LLC now owns 142,475 shares of the business services provider’s stock valued at $14,587,000 after purchasing an additional 38,603 shares in the last quarter. Saybrook Capital NC boosted its stake in shares of Automatic Data Processing by 3.5% in the 1st quarter. Saybrook Capital NC now owns 68,192 shares of the business services provider’s stock valued at $6,982,000 after purchasing an additional 2,335 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Automatic Data Processing by 1,971.2% in the 1st quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after purchasing an additional 28,201,085 shares in the last quarter. Hamilton Point Investment Advisors LLC boosted its stake in shares of Automatic Data Processing by 1.3% in the 1st quarter. Hamilton Point Investment Advisors LLC now owns 36,302 shares of the business services provider’s stock valued at $3,717,000 after purchasing an additional 460 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in shares of Automatic Data Processing by 11.5% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,635,204 shares of the business services provider’s stock valued at $167,429,000 after purchasing an additional 168,242 shares in the last quarter. Hedge funds and other institutional investors own 78.67% of the company’s stock.

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Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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