Automatic Data Processing (NASDAQ:ADP) Stock: Insider Virginia Magliulo Sells 2,927 Shares

Automatic Data Processing, Inc. (NASDAQ:ADP) VP Virginia Magliulo sold 2,927 shares of the company’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $293.70, for a total value of $859,659.90. Following the completion of the transaction, the vice president owned 14,865 shares of the company’s stock, valued at $4,365,850.50. The trade was a 16.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded up $4.94 during trading hours on Monday, reaching $298.78. 2,484,083 shares of the stock traded hands, compared to its average volume of 2,845,797. The company has a market capitalization of $118.39 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 2.64 and a beta of 0.83. The company has a quick ratio of 1.05, a current ratio of 1.03 and a debt-to-equity ratio of 0.98. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $309.40. The company’s 50-day simple moving average is $277.25 and its two-hundred day simple moving average is $240.83.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, October 28th. The business services provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.48 billion. Automatic Data Processing had a return on equity of 77.01% and a net margin of 20.33%. Automatic Data Processing’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.49 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 12.36 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, September 11th. Automatic Data Processing’s payout ratio is presently 60.28%.

Institutional Trading of Automatic Data Processing

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Automatic Data Processing in the second quarter worth about $8,097,229,000. Bank of America Corp DE bought a new position in Automatic Data Processing during the 2nd quarter valued at approximately $1,231,175,000. Deutsche Bank AG bought a new position in Automatic Data Processing during the 2nd quarter valued at approximately $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Automatic Data Processing by 3.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock worth $952,112,000 after buying an additional 129,376 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Automatic Data Processing in the 2nd quarter worth approximately $725,513,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the topic of several recent research reports. Guggenheim reaffirmed a “buy” rating and set a $340.00 target price on shares of Automatic Data Processing in a report on Thursday. Citigroup boosted their price target on shares of Automatic Data Processing from $287.00 to $295.00 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank Of Canada restated a “sector perform” rating and set a $290.00 price target on shares of Automatic Data Processing in a research report on Thursday. Weiss Ratings raised Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 22nd. Finally, TD Cowen raised their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $285.00.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.