Insider Selling: Automatic Data Processing VP Sells 28,170 Shares of Stock (ADP)
Automatic Data Processing (NASDAQ:ADP) VP Jan Siegmund sold 28,170 shares of Automatic Data Processing stock on the open market in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $79.77, for a total transaction of $2,247,120.90. Following the completion of the transaction, the vice president now directly owns 42,991 shares in the company, valued at approximately $3,429,392. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Automatic Data Processing (NASDAQ:ADP) traded up 1.29% on Friday, hitting $80.89. 886,988 shares of the company’s stock traded hands. Automatic Data Processing has a 52 week low of $57.75 and a 52 week high of $83.82. The stock has a 50-day moving average of $79.01 and a 200-day moving average of $74.08. The company has a market cap of $38.942 billion and a P/E ratio of 27.16.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.68 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.62 earnings per share. Automatic Data Processing’s revenue was up 7.7% compared to the same quarter last year.
Several analysts have recently commented on the stock. Analysts at Argus raised their price target on shares of Automatic Data Processing from $80.00 to $88.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of Automatic Data Processing in a research note to investors on Thursday, December 5th. They set an “equal weight” rating and a $82.00 price target on the stock. Finally, analysts at BMO Capital Markets reiterated an “outperform” rating on shares of Automatic Data Processing in a research note to investors on Thursday, October 31st. They now have a $84.00 price target on the stock, up previously from $78.00. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $73.96.
Automatic Data Processing, Inc (NASDAQ:ADP) is a provider of business outsourcing solutions.
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