Automatic Data Processing, Inc. (NASDAQ:ADP – Get Free Report) Vice President Joseph Desilva sold 1,904 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is available at this link.
Automatic data processing inventory increase 0.4%
ADP opened Friday at $255.87. The company’s 50-day moving average price is $240.68 and its 200-day moving average price is $239.90. The stock has a market capitalization of $105.11 billion, a price-to-earnings ratio of 29.79x, a PEG ratio of 2.39x, and a beta of 0.80x. Automatic Data Processing Inc. stock has hit a 12-month low of $201.46 and a 12-month high of $256.84. The company has a quick ratio of 1.01, a current ratio of 1.01, and a debt-to-equity ratio of 0.69.
Automatic Data Processing (NASDAQ:ADP – Get a Free Report) last issued its earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a net profit margin of 19.14% and a return on equity of 95.22%. The company had revenue of $4.67 billion for the quarter, compared to analyst expectations of $4.65 billion. In the same period last year, the company’s EPS was $1.96. The company’s quarterly sales increased 6.3% compared to the same period last year. As a group, equity analysts expect Automatic Data Processing, Inc. to post earnings per share of $9.14 for the current fiscal year.
Automatic data processing announces dividends
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 8th will be issued their $1.40 per share dividend. This equates to an annual dividend of $5.60 and a dividend yield of 2.19%. The ex-dividend date of this dividend will be March 7th (Thursday). Automatic Data Processing’s payout ratio is currently 65.19%.
Hedge funds also pay attention to automatic data processing
Several institutional investors and hedge funds have recently changed their positions on the business. Sei Investments Co. grew its position in Automatic Data Processing by 19.3% in the 1st quarter. Sei Investments Co. now owns 134,223 shares of the business services provider’s stock valued at $30,532,000 after purchasing an additional 21,671 shares during the period. Dakota Wealth Management purchased a new stake in Automatic Data Processing during the 1st quarter valued at $571,000. Zions Bancorporation NA grew its position in the Automated Data Processing space by 12.4% in the 1st quarter. Zions Bancorporation NA now owns 453 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 50 shares during the period. Covestor Ltd grew its position in the Automated Data Processing space by 82.8% in the 1st quarter. Covestor Ltd now owns 636 shares of the business services provider’s stock valued at $145,000 after purchasing an additional 288 shares during the period. Finally, Merit Financial Group LLC increased its position in shares of Automatic Data Processing by 4.4% in the 1st quarter. Merit Financial Group LLC now owns 2,902 shares of the business services provider’s stock valued at $660,000 after purchasing an additional 121 shares during the period. Institutional investors own 79.37% of the company’s stock.
Wall Street Analysts Share Their Opinions
Several equity research analysts have recently commented on this stock. UBS Group undertook to cover the stock of Automatic Data Processing in a research report on Tuesday, November 7th. They gave the company a “neutral” rating and set a price target of $235.00. Mizuho lowered their target price on shares of Automatic Data Processing from $285.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price objective from $217.00 to $243.00 in a research report on Wednesday, January 17th. I pulled it up. Stifel Nicolaus set a $250.00 price target and reissued a “hold” rating on shares of Automatic Data Processing in a research report on Thursday, November 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $253.17.
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About automatic data processing
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Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. The company operates in two segments: Employer Services and Professional Employer Organizations (PEOs). The Employer Services division provides strategic cloud-based platforms and human resources (HR) outsourcing solutions.
References
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