Automatic Data Processing, Inc. (NASDAQ:ADP) VP Sreenivasa Kutam Sells 4,583 Shares

Thursday, June 10, 2021 | MarketBeat

Automatic Data Processing, Inc. (NASDAQ:ADP) VP Sreenivasa Kutam sold 4,583 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, June 9th. The stock was sold at an average price of $200.00, for a total value of $916,600.00. Following the transaction, the vice president now owns 5,041 shares of the company's stock, valued at $1,008,200. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Automatic Data Processing stock traded up $1.21 during trading on Thursday, reaching $199.40. 49,721 shares of the company's stock were exchanged, compared to its average volume of 1,919,088. Automatic Data Processing, Inc. has a 52-week low of $127.31 and a 52-week high of $200.51. The company has a market cap of $84.85 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 2.76 and a beta of 0.71. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.05 and a current ratio of 1.05. The business's 50-day simple moving average is $193.34.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Tuesday, April 27th. The business services provider reported $1.89 EPS for the quarter, topping the Zacks' consensus estimate of $1.82 by $0.07. Automatic Data Processing had a return on equity of 44.23% and a net margin of 16.88%. The company had revenue of $4.10 billion for the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter in the previous year, the firm posted $1.92 earnings per share. The firm's quarterly revenue was up 1.3% on a year-over-year basis. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 5.95 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Friday, June 11th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, June 10th. Automatic Data Processing's dividend payout ratio (DPR) is currently 62.84%.

A number of research firms have recently weighed in on ADP. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on Automatic Data Processing from $190.00 to $212.00 and gave the stock a "buy" rating in a report on Monday, May 3rd. Mizuho boosted their target price on shares of Automatic Data Processing from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, May 27th. They noted that the move was a valuation call. Morgan Stanley upped their target price on shares of Automatic Data Processing from $171.00 to $185.00 and gave the company an "equal weight" rating in a report on Thursday, April 29th. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $197.00 to $200.00 and gave the company a "hold" rating in a research report on Wednesday, March 24th. Finally, Barclays lifted their target price on shares of Automatic Data Processing from $197.00 to $212.00 and gave the stock an "overweight" rating in a research note on Monday, May 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of "Hold" and a consensus price target of $177.81.

A number of institutional investors and hedge funds have recently bought and sold shares of ADP. Chandler Asset Management Inc. bought a new stake in shares of Automatic Data Processing in the 4th quarter worth about $26,000. Freedman Financial Associates Inc. acquired a new stake in Automatic Data Processing during the fourth quarter valued at approximately $35,000. IronBridge Private Wealth LLC bought a new position in Automatic Data Processing during the 4th quarter worth approximately $42,000. Atlas Private Wealth Advisors raised its position in shares of Automatic Data Processing by 127.6% during the 1st quarter. Atlas Private Wealth Advisors now owns 223 shares of the business services provider's stock valued at $42,000 after acquiring an additional 125 shares in the last quarter. Finally, Better Money Decisions LLC acquired a new position in Automatic Data Processing in the first quarter worth $43,000. 79.29% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

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