Automatic Data Processing (NASDAQ:ADP) Hits New 12-Month High – Here’s What Happened

Automatic Data Processing, Inc. (NASDAQ:ADP)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $314.06 and last traded at $312.20, with a volume of 1311310 shares trading hands. The stock had previously closed at $310.76.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Mizuho raised their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Jefferies Financial Group lifted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Barclays increased their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $293.55.

Automatic Data Processing Stock Down 0.0 %

The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $126.84 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 3.62 and a beta of 0.79. The business’s 50 day moving average price is $299.84 and its 200 day moving average price is $291.39.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 1.98%. Automatic Data Processing’s payout ratio is 64.23%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares in the company, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Automatic Data Processing

A number of hedge funds have recently made changes to their positions in ADP. AMG National Trust Bank raised its stake in Automatic Data Processing by 0.3% in the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock valued at $3,318,000 after purchasing an additional 33 shares during the last quarter. Tower Wealth Partners Inc. grew its holdings in shares of Automatic Data Processing by 3.4% during the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock worth $292,000 after buying an additional 35 shares in the last quarter. Sentinus LLC raised its position in shares of Automatic Data Processing by 2.3% in the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock valued at $453,000 after buying an additional 35 shares during the last quarter. Harbour Investments Inc. lifted its stake in shares of Automatic Data Processing by 2.1% in the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after buying an additional 36 shares in the last quarter. Finally, Aspiriant LLC boosted its position in Automatic Data Processing by 1.5% during the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after acquiring an additional 36 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

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.