Automatic Data Processing (NASDAQ:ADP) VP Brian Michaud Sells 120 Shares of Stock

Automatic Data Processing, Inc. (NASDAQ:ADP) VP Brian Michaud sold 120 shares of Automatic Data Processing stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the completion of the sale, the vice president owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. This trade represents a 0.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Automatic Data Processing Stock Up 0.8%

NASDAQ:ADP traded up $2.20 during mid-day trading on Monday, reaching $283.01. The stock had a trading volume of 2,448,889 shares, compared to its average volume of 3,067,762. The company has a market capitalization of $112.43 billion, a price-to-earnings ratio of 25.87 and a beta of 0.81. The stock’s 50 day simple moving average is $249.66 and its two-hundred day simple moving average is $226.17. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $307.80.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.05. The firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the business posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

Institutional Trading of Automatic Data Processing

Several institutional investors have recently modified their holdings of ADP. Horizon Investments LLC grew its position in shares of Automatic Data Processing by 34.1% in the 4th quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock valued at $6,725,000 after acquiring an additional 6,655 shares during the period. Compass Capital Management Inc. grew its holdings in Automatic Data Processing by 3.0% during the fourth quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock worth $52,400,000 after purchasing an additional 5,899 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in Automatic Data Processing during the second quarter worth approximately $13,283,000. DNB Asset Management AS raised its stake in Automatic Data Processing by 11.1% in the fourth quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock valued at $39,278,000 after buying an additional 15,287 shares during the period. Finally, Fulton Bank N.A. lifted its position in shares of Automatic Data Processing by 192.0% in the second quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock valued at $1,605,000 after buying an additional 4,711 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of analyst reports. BMO Capital Markets boosted their target price on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. TD Cowen increased their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Morgan Stanley boosted their price target on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Finally, Argus lowered their target price on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $273.50.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.