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 Automatic Data Processing stock in a transaction on Monday, January 6th. The shares were 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. The trade was a 14.42 % 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 Stock Up 1.2 %

Shares of NASDAQ ADP opened at $291.89 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. The stock’s 50-day simple moving average is $298.43 and its 200-day simple moving average is $277.76. The firm has a market cap of $118.93 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 3.50 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.12. The company had revenue of $4.83 billion for 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%. Automatic Data Processing’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.08 EPS. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were issued a $1.54 dividend. The ex-dividend date of this dividend was Friday, December 13th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.11%. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ADP. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at about $26,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing during the second quarter valued at approximately $27,000. Dunhill Financial LLC raised 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 valued at $29,000 after buying an additional 149 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in Automatic Data Processing by 78.5% during 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 during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Automatic Data Processing in the 3rd quarter worth approximately $35,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Barclays raised their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Mizuho upped their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, TD Cowen raised their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $289.91.

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.