Christopher D’ambrosio sells 312 shares of Automatic Data Processing, Inc. (NASDAQ:ADP)
Automatic Data Processing, Inc. (NASDAQ: ADP – Get a rating) VP Christopher D’Ambrosio sold 312 shares of Automatic Data Processing in a trade on Monday, May 9. The shares were sold at an average price of $214.07, for a total value of $66,789.84. Following the completion of the sale, the vice president now directly owns 1,663 shares of the company, valued at $355,998.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this link.
ADP opened at $208.53 on Thursday. Automatic Data Processing, Inc. has a 1-year low of $187.29 and a 1-year high of $248.96. The company has a debt ratio of 0.71, a quick ratio of 1.04 and a current ratio of 1.01. The stock has a market capitalization of $87.11 billion, a P/E ratio of 30.80, a price-to-earnings growth ratio of 2.59 and a beta of 0.82. The company’s 50-day simple moving average is $221.60 and its 200-day simple moving average is $223.15.
Automatic data processing (NASDAQ: ADP – Get a rating) last released its quarterly results on Wednesday, April 27. The business services provider reported EPS of $2.21 for the quarter, beating the consensus estimate of $2.08 by $0.13. The company posted revenue of $4.51 billion for the quarter, versus analyst estimates of $4.45 billion. Automatic Data Processing had a return on equity of 56.01% and a net margin of 17.77%. The company’s revenues increased by 10.0% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $1.89. On average, equity research analysts expect Automatic Data Processing, Inc. to post EPS of 6.97 for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 1. Investors of record on Friday, June 10 will receive a dividend of $1.04 per share. This represents a dividend of $4.16 on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, June 9. Automatic Data Processing’s dividend payout ratio is currently 61.45%.
Institutional investors have recently changed their stake in the company. Connor Clark & Lunn Investment Management Ltd. increased its position in automatic data processing by 46.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 71,633 shares of the business services provider worth $16,299,000 after acquiring an additional 22,748 shares during the period. F3Logic LLC bought a new position in automatic data processing in Q1 worth $465,000. Private Advisor Group LLC increased its stake in Automatic Data Processing by 2.1% in the 1st quarter. Private Advisor Group LLC now owns 44,683 shares of the business services provider valued at $10,168,000 after purchasing an additional 927 shares during the period. HM Capital Management LLC increased its position in Automatic Information Processing by 12.4% during the first quarter. HM Capital Management LLC now owns 29,413 shares of the business services provider worth $6,693,000 after buying an additional 3,250 shares in the last quarter. Finally, Cetera Advisor Networks LLC increased its stake in Automatic Data Processing by 7.6% in the 1st quarter. Cetera Advisor Networks LLC now owns 27,150 shares of the business services provider worth $6,178,000 after acquiring an additional 1,909 shares during the period. 78.84% of the shares are currently held by institutional investors.
Several equity analysts weighed in on ADP shares. StockNews.com launched coverage on automatic data processing in a research report on Thursday, March 31. They issued a “holding” rating for the company. Robert W. Baird cut his price target on automatic data processing stocks from $242.00 to $220.00 in a Thursday, January 27 research report. Deutsche Bank Aktiengesellschaft raised its price target on automatic data processing from $203.00 to $234.00 in a report on Thursday, April 28. Bank of America upgraded automatic data processing from an “underperforming” rating to a “neutral” rating and set a price target of $223.00 for the stock in a Wednesday, March 9 report. Finally, Mizuho raised its price target on automatic data processing stock from $235.00 to $250.00 and gave the stock a “buy” rating in a Monday, May 2 research note. . One equity research analyst has assigned the stock a sell rating, ten have assigned a hold rating and three have assigned the company’s stock a buy rating. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $231.43.
About automatic data processing (Get a rating)
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic cloud-based platforms and human resource (HR) outsourcing solutions.
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