Automatic Data Processing (ADP) CEO Carlos A. Rodriguez Sells 24,791 Shares

Automatic Data Processing (NASDAQ:ADP) CEO Carlos A. Rodriguez sold 24,791 shares of the company’s stock in a transaction that occurred on Wednesday, January 9th. The shares were sold at an average price of $131.47, for a total value of $3,259,272.77. Following the completion of the transaction, the chief executive officer now directly owns 130,281 shares of the company’s stock, valued at $17,128,043.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Automatic Data Processing stock opened at $131.65 on Friday. Automatic Data Processing has a 12 month low of $107.61 and a 12 month high of $153.51. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $57.53 billion, a P/E ratio of 30.26, a PEG ratio of 2.00 and a beta of 0.95.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 31st. The business services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.09. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.28 billion. Automatic Data Processing had a return on equity of 50.96% and a net margin of 12.71%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.94 earnings per share. On average, analysts predict that Automatic Data Processing will post 5.27 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Thursday, December 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.40%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.69. Automatic Data Processing’s dividend payout ratio is currently 72.64%.

Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Automatic Data Processing from a “buy” rating to a “sell” rating in a report on Wednesday, January 2nd. Barclays assumed coverage on Automatic Data Processing in a report on Wednesday, November 14th. They issued an “overweight” rating and a $168.00 target price for the company. BMO Capital Markets dropped their price objective on Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating on the stock in a research note on Thursday, November 1st. Moffett Nathanson assumed coverage on Automatic Data Processing in a research note on Thursday, October 4th. They issued a “buy” rating and a $180.00 price objective on the stock. Finally, Jefferies Financial Group assumed coverage on Automatic Data Processing in a research note on Monday, October 1st. They issued a “hold” rating and a $160.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $151.87.

Several large investors have recently bought and sold shares of ADP. Cerebellum GP LLC lifted its position in shares of Automatic Data Processing by 1,376.9% during the fourth quarter. Cerebellum GP LLC now owns 192 shares of the business services provider’s stock worth $25,000 after acquiring an additional 179 shares in the last quarter. Moody National Bank Trust Division purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth $37,000. Atlantic Trust LLC purchased a new stake in shares of Automatic Data Processing during the second quarter worth $104,000. Willingdon Wealth Management lifted its position in shares of Automatic Data Processing by 328.5% during the third quarter. Willingdon Wealth Management now owns 857 shares of the business services provider’s stock worth $129,000 after acquiring an additional 657 shares in the last quarter. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of Automatic Data Processing during the third quarter worth $136,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

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Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

Further Reading: Diversification

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