Automatic Data Processing, Inc. (NASDAQ:ADP) VP David Foskett Sells 1,004 Shares of Stock

Automatic Data Processing, Inc. (NASDAQ:ADP) VP David Foskett sold 1,004 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $289.29, for a total value of $290,447.16. Following the completion of the transaction, the vice president now owns 5,958 shares in the company, valued at $1,723,589.82. This represents a 14.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Automatic Data Processing Stock Up 0.4 %

Shares of ADP stock opened at $288.40 on Wednesday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a market cap of $117.51 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. The stock has a 50 day moving average of $298.45 and a 200-day moving average of $277.66.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate 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 was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 EPS. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS 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 is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a yield of 2.14%. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Barclays increased their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Royal Bank of Canada raised their target price on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Jefferies Financial Group upped their price target on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Finally, UBS Group boosted their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $289.91.

Hedge Funds Weigh In On Automatic Data Processing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $26,000. Kiely Wealth Advisory Group Inc. bought a new position in Automatic Data Processing in the second quarter worth $27,000. Dunhill Financial LLC boosted its stake in Automatic Data Processing by 346.5% during the third 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 holdings 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 buying an additional 51 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at $35,000. 80.03% of the stock is currently owned by institutional investors.

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.