Automatic Data Processing (ADP) Short Interest Down 22.9% in December

Automatic Data Processing (NASDAQ:ADP) saw a large decline in short interest in December. As of December 15th, there was short interest totalling 4,672,616 shares, a decline of 22.9% from the November 30th total of 6,057,261 shares. Based on an average daily volume of 2,085,707 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.1% of the shares of the company are short sold.

Automatic Data Processing (NASDAQ:ADP) opened at $117.19 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10. Automatic Data Processing has a 12-month low of $94.11 and a 12-month high of $121.77. The stock has a market capitalization of $51,972.59, a P/E ratio of 31.33, a P/E/G ratio of 2.90 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the firm posted $0.86 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. analysts predict that Automatic Data Processing will post 3.91 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be given a dividend of $0.63 per share. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, December 7th. Automatic Data Processing’s payout ratio is currently 64.12%.

Several institutional investors have recently modified their holdings of ADP. Acrospire Investment Management LLC acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth approximately $102,000. Proficio Capital Partners LLC raised its holdings in Automatic Data Processing by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after acquiring an additional 17 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in Automatic Data Processing in the 3rd quarter valued at $114,000. Grove Bank & Trust raised its holdings in Automatic Data Processing by 16.4% in the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after acquiring an additional 170 shares during the last quarter. Finally, Armbruster Capital Management Inc. raised its holdings in Automatic Data Processing by 2.5% in the 2nd quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 78.67% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Zacks Investment Research upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Bank of America lifted their price target on shares of Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. Stifel Nicolaus reiterated a “hold” rating and set a $108.00 price target on shares of Automatic Data Processing in a research report on Wednesday, October 4th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $95.00 price target on shares of Automatic Data Processing in a research report on Friday, September 15th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $114.14.

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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.

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