Automatic Data Processing (NASDAQ:ADP) Short Interest Up 17.8% in June

Automatic Data Processing (NASDAQ:ADP) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 4,041,800 shares, an increase of 17.8% from the May 30th total of 3,429,700 shares. Based on an average trading volume of 1,730,000 shares, the days-to-cover ratio is presently 2.3 days. Currently, 0.9% of the shares of the stock are sold short.

Several equities research analysts have commented on the company. Citigroup lowered BCE from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Sanford C. Bernstein lowered Encana from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. BidaskClub lowered Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research note on Monday, June 24th. Zacks Investment Research lowered Gold Resource from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. Finally, Barclays upped their price target on WEX from $222.00 to $238.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $167.00.

Shares of NASDAQ:ADP opened at $165.13 on Monday. The firm has a market capitalization of $71.87 billion, a price-to-earnings ratio of 37.96, a PEG ratio of 2.11 and a beta of 0.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50-day moving average price is $164.32. Automatic Data Processing has a 12 month low of $121.40 and a 12 month high of $170.45.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, May 1st. The business services provider reported $1.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.08. Automatic Data Processing had a return on equity of 50.53% and a net margin of 13.76%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the business earned $1.57 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. As a group, research analysts predict that Automatic Data Processing will post 5.44 EPS for the current year.

In other news, VP Dermot J. O’brien sold 1,771 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total value of $286,972.84. Following the completion of the transaction, the vice president now directly owns 14,896 shares of the company’s stock, valued at $2,413,747.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jan Siegmund sold 27,272 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $165.00, for a total value of $4,499,880.00. Following the completion of the transaction, the insider now directly owns 77,595 shares of the company’s stock, valued at $12,803,175. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,749 shares of company stock valued at $5,068,360. Insiders own 0.33% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. UNIVEST FINANCIAL Corp boosted its position in shares of Automatic Data Processing by 0.5% in the second quarter. UNIVEST FINANCIAL Corp now owns 28,750 shares of the business services provider’s stock worth $4,753,000 after buying an additional 151 shares during the period. Country Club Trust Company n.a. boosted its position in shares of Automatic Data Processing by 15.8% in the second quarter. Country Club Trust Company n.a. now owns 2,200 shares of the business services provider’s stock worth $364,000 after buying an additional 300 shares during the period. Clark Capital Management Group Inc. boosted its position in shares of Automatic Data Processing by 2.7% in the second quarter. Clark Capital Management Group Inc. now owns 129,067 shares of the business services provider’s stock worth $21,339,000 after buying an additional 3,401 shares during the period. HMS Capital Management LLC purchased a new stake in shares of Automatic Data Processing in the second quarter worth about $105,000. Finally, Sheets Smith Wealth Management boosted its position in shares of Automatic Data Processing by 54.1% in the second quarter. Sheets Smith Wealth Management now owns 7,167 shares of the business services provider’s stock worth $1,185,000 after buying an additional 2,515 shares during the period. 79.71% of the stock is owned by 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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