Automatic Data Processing, Inc. (NASDAQ:ADP) VP Sells $305,322.05 in Stock

Automatic Data Processing, Inc. (NASDAQ:ADP) VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the transaction, the vice president now owns 6,140 shares of the company’s stock, valued at $1,756,961. The trade was a 14.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

David Foskett also recently made the following trade(s):

• On Monday, January 6th, David Foskett sold 1,004 shares of Automatic Data Processing stock. The stock was sold at an average price of $289.29, for a total transaction of $290,447.16.

Automatic Data Processing Trading Up 0.6 %

Shares of Automatic Data Processing stock opened at $293.37 on Thursday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. The firm has a market cap of $119.54 billion, a PE ratio of 31.31, a PEG ratio of 3.50 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50 day simple moving average of $298.48 and a two-hundred day simple moving average of $279.35.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same period in the previous year, the business posted $2.08 earnings per share. Automatic Data Processing’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.10%. Automatic Data Processing’s payout ratio is 65.74%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ADP. Royal Bank of Canada lifted their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Mizuho boosted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. TD Cowen boosted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, UBS Group boosted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $289.91.

Institutional Investors Weigh In On Automatic Data Processing

A number of hedge funds have recently made changes to their positions in ADP. Accredited Investors Inc. lifted its holdings in shares of Automatic Data Processing by 4,431.5% in the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after acquiring an additional 2,264,202 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Automatic Data Processing by 28,478.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock worth $3,305,780,000 after acquiring an additional 1,190,407 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Automatic Data Processing in the 3rd quarter worth approximately $160,920,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after acquiring an additional 479,145 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Automatic Data Processing by 242.4% in the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after acquiring an additional 456,027 shares during the last quarter. 80.03% of the stock is currently owned by 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.