Automatic Data Processing Director Sells $441,594 in Stock (ADP)
Automatic Data Processing (NASDAQ:ADP) Director John P. Jones III sold 5,487 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $80.48, for a total value of $441,593.76. Following the completion of the transaction, the director now directly owns 27,402 shares of the company’s stock, valued at approximately $2,205,313. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Automatic Data Processing (NASDAQ:ADP) traded up 0.48% during mid-day trading on Monday, hitting $81.51. 522,247 shares of the company’s stock traded hands. Automatic Data Processing has a 1-year low of $69.76 and a 1-year high of $83.82. The stock’s 50-day moving average is $80.56 and its 200-day moving average is $78.11. The company has a market cap of $39.003 billion and a price-to-earnings ratio of 25.85.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results 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. On average, analysts predict that Automatic Data Processing will post $3.52 earnings per share 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 2.37%. The ex-dividend date of this dividend is Wednesday, September 10th.
A number of research firms have recently commented on ADP. 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 issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $85.43.
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.