Automatic Data Processing (NASDAQ:ADP) insider Michael A. Bonarti sold 3,900 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $116.03, for a total transaction of $452,517.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Automatic Data Processing (NASDAQ:ADP) traded up $1.29 during mid-day trading on Friday, reaching $118.47. 1,644,451 shares of the company were exchanged, compared to its average volume of 2,030,000. The firm has a market cap of $52,540.00, a PE ratio of 30.07, a price-to-earnings-growth ratio of 2.90 and a beta of 0.85. Automatic Data Processing has a twelve month low of $94.11 and a twelve month high of $121.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the prior year, the company posted $0.86 EPS. The company’s revenue was up 5.6% on a year-over-year basis. analysts predict that Automatic Data Processing will post 3.91 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 8th were paid a $0.63 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Thursday, December 7th. Automatic Data Processing’s dividend payout ratio is currently 63.96%.
Several brokerages have recently commented on ADP. BidaskClub cut shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Saturday. Citigroup restated a “neutral” rating and issued a $118.00 target price (up from $110.00) on shares of Automatic Data Processing in a research report on Friday. Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday. Goldman Sachs Group upgraded shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and boosted their target price for the company from $116.02 to $135.00 in a research report on Monday, December 11th. Finally, Bank of America upgraded shares of Automatic Data Processing from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $115.21.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Sawyer & Company Inc purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $2,615,000. VNBTrust National Association purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $211,000. Windward Capital Management Co. CA raised its holdings in shares of Automatic Data Processing by 76.3% in the fourth quarter. Windward Capital Management Co. CA now owns 17,051 shares of the business services provider’s stock valued at $1,998,000 after purchasing an additional 7,377 shares during the last quarter. Gillespie Robinson & Grimm Inc. purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $328,000. Finally, Park National Corp OH raised its holdings in shares of Automatic Data Processing by 0.8% in the fourth quarter. Park National Corp OH now owns 358,012 shares of the business services provider’s stock valued at $41,956,000 after purchasing an additional 2,898 shares during the last quarter. 78.67% of the stock is currently owned by institutional investors and hedge funds.
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About Automatic Data Processing
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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