Automatic Data Processing (NASDAQ:ADP) hit a new 52-week high during trading on Friday . The company traded as high as $154.59 and last traded at $154.25, with a volume of 1391764 shares trading hands. The stock had previously closed at $153.51.
Separately, Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “sell” rating in a research note on Wednesday, January 2nd. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $151.87.
The company has a market cap of $67.66 billion, a P/E ratio of 35.70, a PEG ratio of 2.22 and a beta of 0.96. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42.
Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 30th. The business services provider reported $1.34 EPS for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.16. The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.43 billion. Automatic Data Processing had a net margin of 13.12% and a return on equity of 51.92%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 EPS. As a group, research analysts anticipate that Automatic Data Processing will post 5.37 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 8th will be paid a $0.79 dividend. The ex-dividend date is Thursday, March 7th. This represents a $3.16 dividend on an annualized basis and a yield of 2.03%. Automatic Data Processing’s payout ratio is 72.64%.
In other Automatic Data Processing news, VP Donald Weinstein sold 1,706 shares of the company’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $150.39, for a total value of $256,565.34. Following the transaction, the vice president now directly owns 26,220 shares in the company, valued at approximately $3,943,225.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 36,364 shares of the company’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $149.05, for a total transaction of $5,420,054.20. Following the completion of the transaction, the chief executive officer now owns 148,842 shares in the company, valued at $22,184,900.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 120,111 shares of company stock worth $17,047,463. 0.33% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in ADP. Cerebellum GP LLC lifted its holdings in shares of Automatic Data Processing by 1,376.9% during the 4th quarter. Cerebellum GP LLC now owns 192 shares of the business services provider’s stock worth $25,000 after acquiring an additional 179 shares during the period. Tributary Capital Management LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter worth about $26,000. AlphaMark Advisors LLC lifted its holdings in shares of Automatic Data Processing by 319.1% during the 4th quarter. AlphaMark Advisors LLC now owns 197 shares of the business services provider’s stock worth $26,000 after acquiring an additional 150 shares during the period. Lake Point Wealth Management purchased a new position in shares of Automatic Data Processing during the 4th quarter worth about $26,000. Finally, Horan Securities Inc. purchased a new position in shares of Automatic Data Processing during the 4th quarter worth about $31,000. Institutional investors own 80.96% of the company’s stock.
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About Automatic Data Processing (NASDAQ:ADP)
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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