Automatic Data Processing, Inc. (NASDAQ:ADP) VP Sells $458,070.00 in Stock

Automatic Data Processing, Inc. (NASDAQ:ADP) VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the transaction, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $286.13 on Friday. The stock has a 50-day moving average price of $304.41 and a two-hundred day moving average price of $297.03. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The company has a market capitalization of $116.59 billion, a PE ratio of 29.84, a P/E/G ratio of 3.62 and a beta of 0.74. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $1.54 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.15%. Automatic Data Processing’s payout ratio is 64.23%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ADP. Itau Unibanco Holding S.A. bought a new position in shares of Automatic Data Processing during the third quarter worth about $26,000. Dunhill Financial LLC raised its holdings in Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares during the last quarter. Main Street Group LTD raised its holdings in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after purchasing an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC lifted its position in shares of Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after purchasing an additional 67 shares during the period. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $37,000. 80.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ADP. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Jefferies Financial Group upped their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Barclays lifted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, UBS Group upped their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $302.30.

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.