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

Automatic Data Processing, Inc. (NASDAQ:ADP) VP Brian Michaud sold 120 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the transaction, the vice president directly owned 18,442 shares of the company’s stock, valued at $5,158,227.40. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Automatic Data Processing Stock Up 0.8%

Shares of NASDAQ:ADP traded up $2.20 during trading on Monday, hitting $283.01. 2,448,889 shares of the company were exchanged, compared to its average volume of 3,067,762. The firm’s 50 day moving average price is $249.66 and its 200-day moving average price is $226.17. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $307.80. 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 stock has a market capitalization of $112.43 billion, a P/E ratio of 25.87 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 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 analyst estimates of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. Automatic Data Processing’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, research analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed 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 currently 62.16%.

Institutional Trading of Automatic Data Processing

Several institutional investors and hedge funds have recently modified their holdings of ADP. Imprint Wealth LLC acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth about $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $26,000. Bard Associates Inc. acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth $28,000. Prosperity Bancshares Inc purchased a new position in shares of Automatic Data Processing in the 4th quarter worth about $33,000. Finally, High Point Wealth Management LLC purchased a new stake in Automatic Data Processing during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ADP. BMO Capital Markets increased their price target on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Morgan Stanley increased their price objective 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 increased their price target on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. TD Cowen upped their price objective on shares of 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, Wells Fargo & Company boosted their price target on shares of Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.