David Kwon Sells 798 Shares of Automatic Data Processing (NASDAQ:ADP) Stock

Automatic Data Processing, Inc. (NASDAQ:ADP) VP David Kwon sold 798 shares of Automatic Data Processing stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $280.00, for a total value of $223,440.00. Following the sale, the vice president directly owned 13,193 shares of the company’s stock, valued at approximately $3,694,040. The trade was a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Kwon also recently made the following trade(s):

• On Thursday, July 30th, David Kwon sold 2,414 shares of Automatic Data Processing stock. The shares were sold at an average price of $265.62, for a total value of $641,206.68.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $282.78 on Wednesday. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $305.31. The stock’s 50-day moving average is $252.07 and its two-hundred day moving average is $226.84. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $112.34 billion, a P/E ratio of 25.85 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.05. The business had revenue of $5.47 billion during the quarter, compared to analyst estimates 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 was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

Institutional Trading of Automatic Data Processing

Several large investors have recently modified their holdings of ADP. Imprint Wealth LLC bought a new position in Automatic Data Processing in the 3rd quarter worth $25,000. Cornerstone Financial Management LLC bought a new stake in Automatic Data Processing during the fourth quarter valued at about $26,000. Bard Associates Inc. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $28,000. Whipplewood Advisors LLC increased its stake in shares of Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after purchasing an additional 137 shares during the period. Finally, Prosperity Bancshares Inc bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $33,000. 80.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Argus cut their price target on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Weiss Ratings raised shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Cantor Fitzgerald raised their target price on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. TD Cowen boosted their price target on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Finally, Citigroup upped their price target on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.