Insider Selling: Automatic Data Processing (ADP) CEO Sells 95,756 Shares of Stock

Automatic Data Processing (NASDAQ:ADP) CEO Carlos A. Rodriguez sold 95,756 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $118.09, for a total value of $11,307,826.04. Following the transaction, the chief executive officer now directly owns 124,722 shares in the company, valued at $14,728,420.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Automatic Data Processing (NASDAQ ADP) traded down $0.87 during mid-day trading on Friday, reaching $117.50. The company’s stock had a trading volume of 373,260 shares, compared to its average volume of 1,737,100. Automatic Data Processing has a 52 week low of $94.11 and a 52 week high of $121.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $52,140.00, a P/E ratio of 29.82, a price-to-earnings-growth ratio of 2.90 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the company earned $0.86 earnings per share. Automatic Data Processing’s revenue was up 5.6% on a year-over-year basis. sell-side analysts anticipate that Automatic Data Processing will post 3.91 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Friday, December 8th were issued a $0.63 dividend. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date was Thursday, December 7th. This represents a $2.52 dividend on an annualized basis and a yield of 2.14%. Automatic Data Processing’s dividend payout ratio is currently 63.96%.

A number of research analysts have recently issued reports on ADP shares. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. Royal Bank of Canada reaffirmed a “hold” rating and set a $95.00 price target on shares of Automatic Data Processing in a report on Friday, September 15th. Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $108.00 price target on shares of Automatic Data Processing in a report on Wednesday, October 4th. Finally, Bank of America upped their price target on Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a report on Friday, October 13th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $114.14.

Hedge funds have recently bought and sold shares of the business. Flagship Harbor Advisors LLC increased its position in Automatic Data Processing by 0.6% in the first quarter. Flagship Harbor Advisors LLC now owns 2,778 shares of the business services provider’s stock worth $282,000 after buying an additional 16 shares in the last quarter. Proficio Capital Partners LLC increased its position in Automatic Data Processing by 1.8% in the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after buying an additional 17 shares in the last quarter. Northwest Quadrant Wealth Management LLC increased its position in Automatic Data Processing by 0.5% in the second quarter. Northwest Quadrant Wealth Management LLC now owns 4,221 shares of the business services provider’s stock worth $458,000 after buying an additional 21 shares in the last quarter. Ironwood Investment Management LLC increased its position in Automatic Data Processing by 0.7% in the second quarter. Ironwood Investment Management LLC now owns 3,463 shares of the business services provider’s stock worth $355,000 after buying an additional 25 shares in the last quarter. Finally, Savant Capital LLC increased its position in Automatic Data Processing by 0.5% in the second quarter. Savant Capital LLC now owns 4,729 shares of the business services provider’s stock worth $484,000 after buying an additional 25 shares in the last quarter. 78.67% of the stock is currently owned by institutional investors.

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About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

Insider Buying and Selling by Quarter for Automatic Data Processing (NASDAQ:ADP)

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