Automatic Data Processing, Inc. (NASDAQ:ADP) Short Interest Up 12.8% in March

Automatic Data Processing, Inc. (NASDAQ:ADPGet Free Report) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 5,190,000 shares, an increase of 12.8% from the February 29th total of 4,600,000 shares. Based on an average daily volume of 1,860,000 shares, the days-to-cover ratio is presently 2.8 days. Approximately 1.3% of the company’s stock are sold short.

Automatic Data Processing Trading Up 0.6 %

Shares of ADP stock opened at $249.74 on Monday. The firm has a market capitalization of $102.59 billion, a P/E ratio of 29.07, a P/E/G ratio of 2.35 and a beta of 0.78. Automatic Data Processing has a twelve month low of $201.46 and a twelve month high of $256.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The stock’s fifty day simple moving average is $246.98 and its 200 day simple moving average is $239.00.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. Automatic Data Processing’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 EPS. As a group, sell-side analysts predict that Automatic Data Processing will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 8th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, March 7th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.19%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the transaction, the vice president now directly owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now directly owns 19,906 shares of the company’s stock, valued at $4,876,970. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. Insiders sold a total of 16,662 shares of company stock worth $4,094,554 over the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Ardent Capital Management Inc. acquired a new position in Automatic Data Processing during the 3rd quarter worth approximately $392,000. Americana Partners LLC increased its holdings in Automatic Data Processing by 3.1% during the 3rd quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock worth $5,330,000 after purchasing an additional 660 shares in the last quarter. Cyndeo Wealth Partners LLC increased its holdings in Automatic Data Processing by 36.7% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after purchasing an additional 5,318 shares in the last quarter. BKM Wealth Management LLC bought a new stake in Automatic Data Processing during the 4th quarter worth approximately $1,635,000. Finally, Wayfinding Financial LLC increased its holdings in Automatic Data Processing by 6.4% during the 3rd quarter. Wayfinding Financial LLC now owns 2,907 shares of the business services provider’s stock worth $695,000 after purchasing an additional 174 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ADP. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. Mizuho lifted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Finally, Evercore ISI raised their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $254.58.

View Our Latest Research Report on Automatic Data Processing

About Automatic Data Processing

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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.

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