Investors Sell Automatic Data Processing (ADP) on Strength (ADP)

Investors sold shares of Automatic Data Processing (NASDAQ:ADP) on strength during trading hours on Tuesday. $32.46 million flowed into the stock on the tick-up and $104.50 million flowed out of the stock on the tick-down, for a money net flow of $72.04 million out of the stock. Of all equities tracked, Automatic Data Processing had the 15th highest net out-flow for the day. Automatic Data Processing traded up $0.82 for the day and closed at $118.76

Several equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed a “hold” rating and issued a $95.00 price objective on shares of Automatic Data Processing in a research report on Friday, September 15th. BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a research report on Wednesday, November 8th. Bank of America raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 5th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $108.00 price objective on shares of Automatic Data Processing in a research report on Wednesday, October 4th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $114.64.

The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51. The stock has a market cap of $52,670.00, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. 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 EPS. Automatic Data Processing’s quarterly revenue was up 5.6% on a year-over-year basis. analysts forecast that Automatic Data Processing will post 3.91 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 8th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Thursday, December 7th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio is 63.96%.

In other news, insider Michael A. Bonarti sold 3,900 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $116.03, for a total transaction of $452,517.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $118.09, for a total transaction of $11,307,826.04. Following the sale, the chief executive officer now directly owns 124,722 shares in the company, valued at approximately $14,728,420.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,619 shares of company stock worth $12,684,290. 0.25% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Park National Corp OH grew its stake in shares of Automatic Data Processing by 0.8% during the 4th quarter. Park National Corp OH now owns 358,012 shares of the business services provider’s stock worth $41,956,000 after purchasing an additional 2,898 shares during the period. Prudential Financial Inc. grew its stake in shares of Automatic Data Processing by 0.4% during the 3rd quarter. Prudential Financial Inc. now owns 629,708 shares of the business services provider’s stock worth $68,840,000 after purchasing an additional 2,420 shares during the period. AustralianSuper Pty Ltd acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $25,253,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $1,880,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Automatic Data Processing by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 309,760 shares of the business services provider’s stock worth $33,863,000 after purchasing an additional 1,166 shares during the period. 78.67% of the stock is currently owned by institutional investors and hedge funds.

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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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