Automatic Data Processing (NASDAQ:ADP) VP Don Mcguire Sells 326 Shares

Automatic Data Processing (NASDAQ:ADP) VP Don Mcguire sold 326 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $172.07, for a total value of $56,094.82. Following the completion of the sale, the vice president now directly owns 6,916 shares of the company’s stock, valued at $1,190,036.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of NASDAQ:ADP opened at $174.88 on Friday. The business has a 50-day moving average price of $169.94 and a 200 day moving average price of $166.09. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $74.09 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 2.14 and a beta of 0.86. Automatic Data Processing has a 12-month low of $132.04 and a 12-month high of $174.94.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The firm had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. Automatic Data Processing had a return on equity of 46.94% and a net margin of 16.52%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company earned $1.20 EPS. As a group, equities research analysts predict that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.08%. Automatic Data Processing’s payout ratio is 66.79%.

Automatic Data Processing announced that its Board of Directors has initiated a share repurchase program on Tuesday, November 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the business services provider to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

ADP has been the subject of a number of recent research reports. Citigroup raised their target price on Automatic Data Processing from $170.00 to $185.00 and gave the stock a “neutral” rating in a research note on Tuesday. ValuEngine raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Credit Suisse Group reaffirmed a “buy” rating and issued a $185.00 target price on shares of Automatic Data Processing in a research note on Monday, November 4th. Wolfe Research downgraded Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 31st. Finally, Moffett Nathanson downgraded Automatic Data Processing from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 7th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Automatic Data Processing has an average rating of “Hold” and a consensus price target of $182.11.

Several large investors have recently modified their holdings of the stock. We Are One Seven LLC boosted its holdings in Automatic Data Processing by 4.6% during the 4th quarter. We Are One Seven LLC now owns 2,710 shares of the business services provider’s stock valued at $462,000 after acquiring an additional 118 shares during the period. Palisade Asset Management LLC boosted its holdings in Automatic Data Processing by 2.1% during the 4th quarter. Palisade Asset Management LLC now owns 28,639 shares of the business services provider’s stock valued at $4,883,000 after acquiring an additional 600 shares during the period. Allworth Financial LP boosted its stake in shares of Automatic Data Processing by 11.5% in the 4th quarter. Allworth Financial LP now owns 1,613 shares of the business services provider’s stock valued at $275,000 after buying an additional 167 shares during the period. Wedbush Securities Inc. boosted its stake in shares of Automatic Data Processing by 4.4% in the 4th quarter. Wedbush Securities Inc. now owns 4,069 shares of the business services provider’s stock valued at $694,000 after buying an additional 170 shares during the period. Finally, Merit Financial Group LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at about $596,000. 80.05% of the stock is owned by hedge funds and other institutional investors.

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.

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