David Foskett Sells 1,067 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP) Stock

Automatic Data Processing, Inc. (NASDAQ:ADPGet Free Report) VP David Foskett sold 1,067 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 shares were sold at an average price of $289.29, for a total value of $290,447.16.

Automatic Data Processing Trading Up 0.5 %

Shares of ADP stock traded up $1.49 during trading hours on Tuesday, hitting $291.69. The company had a trading volume of 2,317,801 shares, compared to its average volume of 1,521,747. 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 stock has a market capitalization of $118.85 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. The company’s fifty day moving average is $298.47 and its 200 day moving average is $278.98. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63.

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

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were issued a $1.54 dividend. The ex-dividend date was Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s payout ratio is 65.74%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. UBS Group raised their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Saturday. Barclays increased their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. TD Cowen upped their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, Citigroup increased their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $289.91.

Check Out Our Latest Analysis on ADP

Institutional Trading of Automatic Data Processing

Hedge funds have recently modified their holdings of the stock. State Street Corp grew its holdings in Automatic Data Processing by 2.4% during the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock worth $5,098,541,000 after acquiring an additional 424,328 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Automatic Data Processing by 2.8% during the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock worth $2,906,257,000 after purchasing an additional 286,080 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Automatic Data Processing by 12.0% in the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after buying an additional 435,093 shares during the last quarter. Legal & General Group Plc raised its stake in Automatic Data Processing by 4.1% in the second quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock valued at $846,912,000 after buying an additional 139,561 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Automatic Data Processing by 1.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock worth $896,197,000 after buying an additional 41,709 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Company Profile

(Get Free Report)

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.

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