Automatic Data Processing VP Douglas W. Politi Sells 4,390 Shares (ADP)
Automatic Data Processing (NASDAQ:ADP) VP Douglas W. Politi sold 4,390 shares of the company’s stock on the open market in a transaction dated Friday, August 15th. The stock was sold at an average price of $82.63, for a total value of $362,745.70. Following the completion of the sale, the vice president now directly owns 17,168 shares of the company’s stock, valued at approximately $1,418,592. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Automatic Data Processing (NASDAQ:ADP) traded up 0.81% during mid-day trading on Monday, hitting $82.94. 90,756 shares of the company’s stock traded hands. Automatic Data Processing has a 52 week low of $69.76 and a 52 week high of $83.82. The stock’s 50-day moving average is $81.00 and its 200-day moving average is $78.22. The company has a market cap of $39.887 billion and a P/E ratio of 26.22.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.63 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter 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 2.33%. The ex-dividend date of this dividend is Wednesday, September 10th.
A number of research firms have recently commented on ADP. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Automatic Data Processing in a research note on Wednesday, August 13th. They now have a $94.00 price target on the stock, up previously from $89.00. Separately, 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. Finally, 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. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $86.50.
Automatic Data Processing, Inc (NASDAQ:ADP) is a provider of business outsourcing solutions.
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