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Automatic Data Processing (NASDAQ:ADP) issued its quarterly earnings data on Wednesday. The company reported $0.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.77 by $0.01, Analyst Ratings News reports. The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter last year, the company posted $0.72 earnings per share. Automatic Data Processing’s revenue was up 8.6% compared to the same quarter last year.

Shares of Automatic Data Processing (NASDAQ:ADP) traded down 1.68% on Wednesday, hitting $73.69. The stock had a trading volume of 1,797,932 shares. Automatic Data Processing has a 1-year low of $59.83 and a 1-year high of $83.82. The stock has a 50-day moving average of $79.10 and a 200-day moving average of $75.50. The company has a market cap of $35.476 billion and a price-to-earnings ratio of 25.49.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of 0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Wednesday, March 12th.

Several analysts have recently commented on the stock. 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. On the ratings front, 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 investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $74.04.

In other Automatic Data Processing news, VP Dermot O’brien sold 4,176 shares of the stock on the open market in a transaction dated Monday, January 27th. The shares were 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 of the company’s stock, valued at approximately $1,627,550. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Automatic Data Processing, Inc (NASDAQ:ADP) is a provider of business outsourcing solutions.

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