Automatic Data Processing (NASDAQ:ADP) Hits New 1-Year High at $279.72

Automatic Data Processing, Inc. (NASDAQ:ADP)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $279.72 and last traded at $279.44, with a volume of 69118 shares traded. The stock had previously closed at $277.51.

Analyst Ratings Changes

A number of analysts recently issued reports on ADP shares. Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $265.36.

Automatic Data Processing Trading Down 0.0 %

The company’s fifty day moving average price is $260.52 and its two-hundred day moving average price is $250.53. The firm has a market cap of $113.12 billion, a PE ratio of 30.97, a P/E/G ratio of 3.02 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. Automatic Data Processing’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 earnings per share. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 846 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP David Kwon sold 846 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock worth $15,999,208 in the last quarter. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Automatic Data Processing

A number of large investors have recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Automatic Data Processing in the second quarter worth about $27,000. Keener Financial Planning LLC increased its holdings in shares of Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares during the period. Crewe Advisors LLC bought a new stake in shares of Automatic Data Processing during the first quarter valued at about $33,000. Pathway Financial Advisers LLC bought a new position in shares of Automatic Data Processing in the first quarter valued at approximately $36,000. Finally, Pineridge Advisors LLC bought a new position in Automatic Data Processing during the fourth quarter valued at about $39,000. 80.03% of the stock is owned by institutional investors and hedge funds.

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.