Insider Selling: Carlos Rodriguez Sells 47,500 Shares of Automatic Data Processing Stock (ADP)
Automatic Data Processing (NASDAQ:ADP) CEO Carlos Rodriguez sold 47,500 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $80.33, for a total value of $3,815,675.00. Following the sale, the chief executive officer now directly owns 130,085 shares of the company’s stock, valued at approximately $10,449,728. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Automatic Data Processing (NASDAQ:ADP) traded up 1.09% during mid-day trading on Friday, hitting $80.73. 1,948,060 shares of the company’s stock traded hands. Automatic Data Processing has a one year low of $57.75 and a one year 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 $38.865 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 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 previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis.
A number of analysts have recently weighed in on ADP shares. 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 analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $73.96.
Automatic Data Processing, Inc (NASDAQ:ADP) is a provider of business outsourcing solutions.
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