Automatic Data Processing Director Sells $381,283 in Stock (ADP)
Automatic Data Processing (NASDAQ:ADP) Director Gregory D. Brenneman sold 4,750 shares of the stock on the open market in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $80.27, for a total value of $381,282.50. Following the transaction, the director now directly owns 27,534 shares of the company’s stock, valued at approximately $2,210,154. The sale was disclosed in a filing with the SEC, which is available at this link.
Automatic Data Processing (NASDAQ:ADP) traded up 1.22% on Friday, hitting $81.05. The stock had a trading volume of 828,372 shares. Automatic Data Processing has a 1-year low of $69.76 and a 1-year high of $83.82. The stock has a 50-day moving average of $80.49 and a 200-day moving average of $78.09. The company has a market cap of $38.782 billion and a P/E ratio of 25.52.
Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.63 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.63. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. Analysts expect that Automatic Data Processing will post $3.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Wednesday, September 10th.
A number of analysts have recently weighed in on ADP shares. Analysts at Raymond James reiterated an “outperform” rating on shares of Automatic Data Processing in a research note on Friday, August 1st. They now have a $86.00 price target on the stock, up previously from $84.00. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Automatic Data Processing in a research note on Friday, August 1st. They now have a $80.00 price target on the stock, up previously from $71.00. Finally, analysts at Bank of America reiterated a “buy” rating on shares of Automatic Data Processing in a research note on Friday, July 25th. They now have a $90.00 price target on the stock, down previously from $95.00. Five equities research 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 a consensus target price of $85.43.
Automatic Data Processing, Inc (NASDAQ:ADP) is a provider of business outsourcing solutions.
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