Automatic Data Processing (NASDAQ:ADP) VP Don Mcguire sold 326 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $172.07, for a total value of $56,094.82. Following the completion of the transaction, the vice president now owns 6,916 shares of the company’s stock, valued at approximately $1,190,036.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of ADP traded down $3.62 during trading hours on Friday, hitting $171.39. The company had a trading volume of 3,303,582 shares, compared to its average volume of 1,882,889. The company has a market capitalization of $74.16 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 2.13 and a beta of 0.86. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. Automatic Data Processing has a one year low of $138.13 and a one year high of $179.89. The company’s fifty day moving average price is $172.02 and its two-hundred day moving average price is $166.98.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.08. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.69 billion. Automatic Data Processing had a return on equity of 46.96% and a net margin of 16.97%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.34 EPS. Analysts forecast that Automatic Data Processing will post 6.17 earnings per share for the current year.
Automatic Data Processing declared that its Board of Directors has authorized a stock buyback program on Tuesday, November 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the business services provider to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $3.64 annualized dividend and a yield of 2.12%. Automatic Data Processing’s dividend payout ratio (DPR) is 66.79%.
A number of equities research analysts recently issued reports on ADP shares. Citigroup raised their price target on Automatic Data Processing from $170.00 to $185.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Credit Suisse Group reissued a “buy” rating and set a $190.00 price target on shares of Automatic Data Processing in a research note on Sunday. ValuEngine raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Moffett Nathanson lowered Automatic Data Processing from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 7th. Finally, Wolfe Research lowered Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $186.20.
A number of hedge funds have recently made changes to their positions in ADP. Sugarloaf Wealth Management LLC purchased a new position in Automatic Data Processing during the 4th quarter worth $27,000. Horan Capital Advisors LLC. purchased a new position in Automatic Data Processing during the 3rd quarter worth $31,000. Clear Harbor Asset Management LLC purchased a new position in Automatic Data Processing during the 4th quarter worth $42,000. Savior LLC purchased a new position in Automatic Data Processing during the 4th quarter worth $43,000. Finally, Gradient Investments LLC grew its stake in Automatic Data Processing by 126.2% during the 3rd quarter. Gradient Investments LLC now owns 276 shares of the business services provider’s stock worth $45,000 after buying an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 80.10% of the company’s stock.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
