Automatic Data Processing, Inc. (NASDAQ:ADP) VP Sells $106,366.46 in Stock

Automatic Data Processing, Inc. (NASDAQ:ADP) VP Brian L. Michaud sold 362 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $291.69 on Friday. The firm has a market capitalization of $118.85 billion, a PE ratio of 31.13, a PEG ratio of 3.50 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63. The business’s 50 day moving average is $298.35 and its 200-day moving average is $276.30.

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

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were given a dividend of $1.54 per share. The ex-dividend date was Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

Institutional Investors Weigh In On Automatic Data Processing

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

Wall Street Analyst Weigh In

Several equities analysts have commented on ADP shares. Jefferies Financial Group increased their price target on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. TD Cowen lifted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Citigroup boosted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Royal Bank of Canada raised their price target on 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. Finally, UBS Group boosted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $289.91.

About Automatic Data Processing

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.