Maria Black Sells 19,147 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP) Stock

Automatic Data Processing, Inc. (NASDAQ:ADP) CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at $25,464,384.66. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Automatic Data Processing Price Performance

ADP stock opened at $270.17 on Friday. The company has a market capitalization of $110.58 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 3.00 and a beta of 0.78. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $278.24. The business has a 50-day simple moving average of $255.77 and a two-hundred day simple moving average of $249.62.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the business earned $1.89 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Research analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.07%. Automatic Data Processing’s payout ratio is presently 62.50%.

Analysts Set New Price Targets

Several brokerages have recently commented on ADP. Jefferies Financial Group raised their target price on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Bank of America raised their target price on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Stifel Nicolaus raised their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $265.36.

Hedge Funds Weigh In On Automatic Data Processing

Hedge funds and other institutional investors have recently modified their holdings of the business. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Automatic Data Processing in the 2nd quarter worth approximately $27,000. Keener Financial Planning LLC raised its holdings in shares of Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares during the period. Crewe Advisors LLC bought a new stake in shares of Automatic Data Processing in the 1st quarter worth approximately $33,000. Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing in the 1st quarter worth approximately $36,000. Finally, Pineridge Advisors LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

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.