Traders Sell Automatic Data Processing (ADP) on Strength (ADP)
Traders sold shares of Automatic Data Processing (NYSE:ADP) on strength during trading hours on Tuesday. $34.47 million flowed into the stock on the tick-up and $167.07 million flowed out of the stock on the tick-down, for a money net flow of $132.60 million out of the stock. Of all stocks tracked, Automatic Data Processing had the highest net out-flow for the day. Automatic Data Processing traded up $0.42 for the day and closed at $107.92
Several research firms have issued reports on ADP. BMO Capital Markets reiterated a “market perform” rating and issued a $105.00 price objective on shares of Automatic Data Processing in a research report on Wednesday, August 9th. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Saturday. Robert W. Baird reiterated a “neutral” rating and issued a $95.00 price objective on shares of Automatic Data Processing in a research report on Sunday, July 30th. Evercore ISI cut Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 price objective for the company. in a research report on Friday, June 2nd. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $107.81.
The firm’s 50-day moving average price is $108.50 and its 200 day moving average price is $103.70. The stock has a market capitalization of $47.96 billion and a price-to-earnings ratio of 28.03.
Automatic Data Processing (NYSE:ADP) last announced its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.02). The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $0.69 earnings per share. On average, equities analysts forecast that Automatic Data Processing will post $3.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 7th.
In other news, VP Maria Black sold 631 shares of the company’s stock in a transaction dated Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the sale, the vice president now owns 10,550 shares in the company, valued at approximately $1,125,052. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $110.00, for a total value of $3,999,930.00. Following the sale, the chief executive officer now owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The disclosure for this sale can be found here. Insiders have sold 45,522 shares of company stock worth $4,953,609 over the last three months.
A number of large investors have recently made changes to their positions in the stock. Intl Fcstone Inc. bought a new stake in Automatic Data Processing during the 2nd quarter valued at approximately $1,699,000. Achmea Investment Management B.V. raised its holdings in Automatic Data Processing by 152.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 28,225 shares of the business services provider’s stock valued at $2,887,000 after acquiring an additional 17,043 shares in the last quarter. Farmers National Bank raised its holdings in Automatic Data Processing by 4.0% in the 2nd quarter. Farmers National Bank now owns 1,917 shares of the business services provider’s stock valued at $196,000 after acquiring an additional 73 shares in the last quarter. Atlantic Trust LLC raised its holdings in Automatic Data Processing by 12.2% in the 2nd quarter. Atlantic Trust LLC now owns 4,375 shares of the business services provider’s stock valued at $449,000 after acquiring an additional 475 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in Automatic Data Processing by 24.1% in the 2nd quarter. Toronto Dominion Bank now owns 156,679 shares of the business services provider’s stock valued at $16,052,000 after acquiring an additional 30,422 shares in the last quarter.
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Automatic Data Processing Company Profile
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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