Automatic Data Processing, Inc. (NASDAQ:ADP) Short Interest Update

Automatic Data Processing, Inc. (NASDAQ:ADP) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 5,210,000 shares, a decrease of 20.0% from the October 31st total of 6,510,000 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 1,590,000 shares, the short-interest ratio is presently 3.3 days.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Barclays upped their target price on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Royal Bank of Canada lifted their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. UBS Group upped their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. TD Cowen increased their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $289.91.

Insider Buying and Selling at Automatic Data Processing

In other news, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. This trade represents a 17.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The trade was a 20.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,504 shares of company stock valued at $20,298,056 in the last quarter. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Automatic Data Processing

A number of hedge funds have recently modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new stake in shares of Automatic Data Processing in the third quarter worth $26,000. Kiely Wealth Advisory Group Inc. bought a new position in Automatic Data Processing in the 2nd quarter worth $27,000. Dunhill Financial LLC increased its stake in Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Automatic Data Processing during the third quarter valued at about $35,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.0 %

Automatic Data Processing stock opened at $306.93 on Friday. The stock has a market cap of $125.06 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 3.57 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a fifty day moving average of $292.45 and a 200 day moving average of $267.99. Automatic Data Processing has a one year low of $227.12 and a one year high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.08 EPS. As a group, sell-side analysts predict that Automatic Data Processing will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, December 13th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio (DPR) is currently 59.77%.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.