Insider Selling: Eric C. Fast Sells 10,000 Shares of Automatic Data Processing Stock (ADP)
Automatic Data Processing (NASDAQ:ADP) Director Eric C. Fast sold 10,000 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $78.81, for a total transaction of $788,100.00. Following the transaction, the director now directly owns 23,255 shares of the company’s stock, valued at approximately $1,832,727. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Automatic Data Processing (NASDAQ:ADP) traded up 1.05% during mid-day trading on Monday, hitting $78.89. 1,319,353 shares of the company’s stock traded hands. Automatic Data Processing has a one year low of $67.16 and a one year high of $83.82. The stock’s 50-day moving average is $76.51 and its 200-day moving average is $77.47. The company has a market cap of $38.033 billion and a P/E ratio of 26.03.
Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.08 by $0.02. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts expect that Automatic Data Processing will post $3.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Wednesday, June 11th.
Separately, analysts at Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $82.00 to $88.00 in a research note on Monday, March 10th. They now have a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $80.69.
Automatic Data Processing, Inc (NASDAQ:ADP) is a provider of business outsourcing solutions.
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