Insider Selling: Automatic Data Processing VP Sells 4,390 Shares of Stock (ADP)
Automatic Data Processing (NASDAQ:ADP) VP Douglas W. Politi unloaded 4,390 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $1,418,592. The sale was disclosed in a filing with the SEC, which is available at this link.
Automatic Data Processing (NASDAQ:ADP) opened at 83.43 on Wednesday. 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 $81.17 and its 200-day moving average is $78.32. The company has a market cap of $40.122 billion and a price-to-earnings ratio of 26.53.
Automatic Data Processing (NASDAQ:ADP) last issued 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. Shareholders 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 2.30%. The ex-dividend date of this dividend is Wednesday, September 10th.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $86.50.
Automatic Data Processing, Inc (NASDAQ:ADP) is a provider of business outsourcing solutions.
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