Automatic Data Processing, Inc. (NASDAQ:ADP) VP Sells $144,832.60 in Stock

Automatic Data Processing, Inc. (NASDAQ:ADP - Get Free Report) VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now owns 7,244 shares of the company's stock, valued at $2,218,112.80. This represents a 6.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Automatic Data Processing Stock Up 0.4 %

Shares of NASDAQ:ADP traded up $1.21 during trading hours on Friday, hitting $291.76. The company's stock had a trading volume of 1,428,927 shares, compared to its average volume of 1,461,003. The firm's fifty day moving average price is $302.32 and its 200 day moving average price is $294.58. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The company has a market capitalization of $118.88 billion, a price-to-earnings ratio of 30.42, a P/E/G ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Remove Ads

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.11%. Automatic Data Processing's dividend payout ratio (DPR) is presently 64.23%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ADP. Barclays increased their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. UBS Group upped their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Jefferies Financial Group increased their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Royal Bank of Canada restated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and an average target price of $296.18.

Institutional Trading of Automatic Data Processing

Hedge funds have recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in Automatic Data Processing during the third quarter valued at approximately $26,000. Dunhill Financial LLC boosted its position in shares of Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock worth $29,000 after purchasing an additional 149 shares in the last quarter. Main Street Group LTD boosted its position in shares of Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after purchasing an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC increased its position in Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock valued at $35,000 after buying an additional 67 shares in the last quarter. Finally, Sugar Maple Asset Management LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at about $37,000. 80.03% of the stock is owned by hedge funds and other 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.