Insider Selling: Mark Benjamin Sells 4,090 Shares of Automatic Data Processing Stock (ADP)
Automatic Data Processing (NASDAQ:ADP) VP Mark Benjamin sold 4,090 shares of Automatic Data Processing stock on the open market in a transaction dated Monday, November 4th. The shares were sold at an average price of $75.47, for a total value of $308,672.30. Following the completion of the sale, the vice president now directly owns 26,183 shares in the company, valued at approximately $1,976,031. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Automatic Data Processing (NASDAQ:ADP) traded up 0.03% during mid-day trading on Monday, hitting $75.33. 976,775 shares of the company’s stock traded hands. Automatic Data Processing has a 52 week low of $54.02 and a 52 week high of $76.66. The stock has a 50-day moving average of $73.50 and a 200-day moving average of $71.08. The company has a market cap of $36.166 billion and a P/E ratio of 25.62.
Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.66 by $0.02. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts predict that Automatic Data Processing will post $3.17 earnings per share for the current fiscal year.
ADP has been the subject of a number of recent research reports. Analysts at BMO Capital Markets reiterated an “outperform” rating on shares of Automatic Data Processing in a research note to investors on Thursday. They now have a $84.00 price target on the stock, up previously from $78.00. Separately, analysts at UBS AG initiated coverage on shares of Automatic Data Processing in a research note to investors on Tuesday, September 24th. They set a “neutral” rating on the stock. Finally, analysts at RBC Capital downgraded shares of Automatic Data Processing from an “outperform” rating to a “sector perform” rating in a research note to investors on Tuesday, September 24th. They now have a $73.00 price target on the stock, down previously from $77.00. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $71.63.
Automatic Data Processing, Inc (NASDAQ:ADP) is a provider of business outsourcing solutions.
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