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

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

Automatic Data Processing Stock Up 0.5 %

ADP stock opened at $291.69 on Wednesday. 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 P/E ratio of 31.13, a P/E/G ratio of 3.50 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63. The business has a 50-day moving average of $298.48 and a 200-day moving average of $279.35.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last released its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.08 EPS. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were given a $1.54 dividend. The ex-dividend date was Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.11%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

Institutional Investors Weigh In On Automatic Data Processing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADP. Federated Hermes Inc. boosted its position in Automatic Data Processing by 0.4% during the second quarter. Federated Hermes Inc. now owns 92,324 shares of the business services provider’s stock valued at $22,037,000 after purchasing an additional 365 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Automatic Data Processing by 2.7% in the 2nd quarter. Parallel Advisors LLC now owns 8,071 shares of the business services provider’s stock valued at $1,927,000 after buying an additional 216 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Automatic Data Processing by 0.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,426 shares of the business services provider’s stock valued at $3,682,000 after buying an additional 130 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in Automatic Data Processing by 4.3% during the second quarter. J.W. Cole Advisors Inc. now owns 5,872 shares of the business services provider’s stock worth $1,402,000 after buying an additional 242 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in Automatic Data Processing by 14.1% during the second quarter. Brown Brothers Harriman & Co. now owns 500,158 shares of the business services provider’s stock worth $119,383,000 after buying an additional 61,734 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ADP shares. UBS Group increased their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Saturday. Mizuho boosted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. TD Cowen increased their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group lifted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $289.91.

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Automatic Data Processing Company Profile

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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.

Further Reading

Insider Buying and Selling by Quarter for Automatic Data Processing (NASDAQ:ADP)

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