Automatic Data Processing, Inc. (NASDAQ:ADP) VP Don Mcguire Sells 3,179 Shares

Automatic Data Processing, Inc. (NASDAQ:ADP) VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares in the company, valued at approximately $11,440,548.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $275.22 on Thursday. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $278.24. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a fifty day moving average price of $255.11 and a two-hundred day moving average price of $249.47. The firm has a market capitalization of $112.65 billion, a P/E ratio of 30.72, a P/E/G ratio of 3.00 and a beta of 0.78.

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

Automatic Data Processing Dividend Announcement

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 issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s payout ratio is currently 62.50%.

Institutional Investors Weigh In On Automatic Data Processing

Large investors have recently bought and sold shares of the business. TD Asset Management Inc grew its holdings in shares of Automatic Data Processing by 14.2% during the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after purchasing an additional 99,515 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Automatic Data Processing by 70.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock worth $152,405,000 after acquiring an additional 264,466 shares during the last quarter. SG Americas Securities LLC increased its position in Automatic Data Processing by 195.1% in the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after acquiring an additional 34,118 shares in the last quarter. Cornerstone Wealth Group LLC bought a new position in shares of Automatic Data Processing in the first quarter worth about $2,924,000. Finally, LVW Advisors LLC lifted its position in shares of Automatic Data Processing by 23.8% during the first quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock worth $962,000 after purchasing an additional 740 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ADP shares. Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group boosted their price target 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. JPMorgan Chase & Co. raised their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Barclays boosted their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Bank of America raised their target price on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $265.36.

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.