Automatic Data Processing, Inc. (NASDAQ:ADP – Get Free Report) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 5,490,000 shares, an increase of 5.4% from the November 15th total of 5,210,000 shares. Based on an average daily volume of 1,630,000 shares, the short-interest ratio is presently 3.4 days. Currently, 1.4% of the company’s stock are sold short.
Automatic Data Processing Trading Up 0.0 %
Shares of ADP stock opened at $296.81 on Tuesday. 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 $120.94 billion, a P/E ratio of 31.68, a PEG ratio of 3.50 and a beta of 0.79. The company has a 50 day moving average of $297.32 and a 200-day moving average of $272.37. Automatic Data Processing has a 12-month low of $227.12 and a 12-month high of $309.63.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last released 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 the consensus estimate of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the business posted $2.08 earnings per share. Sell-side analysts anticipate that Automatic Data Processing will post 9.93 earnings per share for the current year.
Automatic Data Processing Increases Dividend
Insider Buying and Selling
In related news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is owned by company insiders.
Hedge Funds Weigh In On Automatic Data Processing
Several large investors have recently modified their holdings of the business. Fidelity D & D Bancorp Inc. raised its holdings in Automatic Data Processing by 1.4% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 3,796 shares of the business services provider’s stock valued at $1,050,000 after acquiring an additional 52 shares during the period. Garde Capital Inc. grew its position in shares of Automatic Data Processing by 6.6% in the third quarter. Garde Capital Inc. now owns 955 shares of the business services provider’s stock valued at $264,000 after purchasing an additional 59 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Automatic Data Processing by 8.4% during the 3rd quarter. Franklin Resources Inc. now owns 667,068 shares of the business services provider’s stock valued at $194,117,000 after purchasing an additional 51,828 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in Automatic Data Processing by 220.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 46,379 shares of the business services provider’s stock worth $12,834,000 after purchasing an additional 31,904 shares in the last quarter. Finally, World Investment Advisors LLC boosted its stake in Automatic Data Processing by 22.6% in the 3rd quarter. World Investment Advisors LLC now owns 7,466 shares of the business services provider’s stock worth $2,066,000 after purchasing an additional 1,378 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently commented on ADP. UBS Group increased their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Barclays raised their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Royal Bank of Canada upped their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Citigroup boosted their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $289.91.
View Our Latest Analysis on ADP
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.
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