Automatic Data Processing (NASDAQ:ADP) CEO Carlos A. Rodriguez sold 101,620 shares of the business’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $147.46, for a total transaction of $14,984,885.20. Following the transaction, the chief executive officer now directly owns 199,405 shares in the company, valued at approximately $29,404,261.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
ADP traded down $0.70 during trading on Friday, reaching $147.19. 2,371,359 shares of the company’s stock were exchanged, compared to its average volume of 2,251,837. Automatic Data Processing has a fifty-two week low of $107.61 and a fifty-two week high of $153.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $64.92 billion, a P/E ratio of 33.84, a P/E/G ratio of 2.26 and a beta of 0.91.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 31st. The business services provider reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.09. Automatic Data Processing had a net margin of 12.71% and a return on equity of 50.96%. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the previous year, the company earned $0.94 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts expect that Automatic Data Processing will post 5.26 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be paid a dividend of $0.79 per share. The ex-dividend date is Thursday, December 13th. This represents a $3.16 dividend on an annualized basis and a yield of 2.15%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.69. Automatic Data Processing’s payout ratio is currently 63.45%.
A number of institutional investors and hedge funds have recently bought and sold shares of ADP. JPMorgan Chase & Co. boosted its stake in Automatic Data Processing by 213.1% during the third quarter. JPMorgan Chase & Co. now owns 8,639,847 shares of the business services provider’s stock worth $1,301,682,000 after buying an additional 5,880,242 shares in the last quarter. Fundsmith Equity Fund L.P. acquired a new stake in Automatic Data Processing during the second quarter worth $776,199,000. Millennium Management LLC boosted its stake in Automatic Data Processing by 328.6% during the second quarter. Millennium Management LLC now owns 2,221,504 shares of the business services provider’s stock worth $297,993,000 after buying an additional 1,703,162 shares in the last quarter. Senator Investment Group LP acquired a new stake in Automatic Data Processing during the second quarter worth $174,382,000. Finally, Morgan Stanley boosted its stake in Automatic Data Processing by 11.7% during the second quarter. Morgan Stanley now owns 7,671,784 shares of the business services provider’s stock worth $1,029,094,000 after buying an additional 801,928 shares in the last quarter. Hedge funds and other institutional investors own 77.94% of the company’s stock.
ADP has been the topic of a number of research reports. BidaskClub lowered shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 1st. Argus boosted their target price on shares of Automatic Data Processing from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. Guggenheim initiated coverage on shares of Automatic Data Processing in a research report on Monday, August 20th. They set a “buy” rating and a $175.00 target price on the stock. Moffett Nathanson initiated coverage on shares of Automatic Data Processing in a research report on Thursday, October 4th. They set a “buy” rating and a $180.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Automatic Data Processing in a research report on Monday, October 1st. They set a “hold” rating and a $160.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $148.69.
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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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