Automatic Data Processing VP Sells $321,385 in Stock (ADP)
Automatic Data Processing (NASDAQ:ADP) VP Dermot J. O’brien sold 4,176 shares of the stock on the open market in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $76.96, for a total value of $321,384.96. Following the completion of the transaction, the vice president now directly owns 21,148 shares in the company, valued at approximately $1,627,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Automatic Data Processing (NASDAQ:ADP) traded down 0.61% during mid-day trading on Monday, hitting $76.50. 1,735,114 shares of the company’s stock traded hands. Automatic Data Processing has a 52-week low of $59.26 and a 52-week high of $83.82. The stock has a 50-day moving average of $79.59 and a 200-day moving average of $75.25. The company has a market cap of $36.829 billion and a P/E ratio of 26.18.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of 0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Wednesday, March 12th.
A number of research firms have recently commented on ADP. Analysts at RBC Capital initiated coverage on shares of Automatic Data Processing in a research note to investors on Thursday, January 9th. They set a “sector perform” rating on the stock. Separately, 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, January 3rd. They now have a “buy” rating on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $74.04.
Automatic Data Processing, Inc (NASDAQ:ADP) is a provider of business outsourcing solutions.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.