Insider Selling: Automatic Data Processing (ADP) Insider Sells 7,886 Shares of Stock
Automatic Data Processing (NASDAQ:ADP) insider Edward B. Flynn III sold 7,886 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $117.74, for a total value of $928,497.64. Following the sale, the insider now directly owns 40,522 shares in the company, valued at approximately $4,771,060.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Automatic Data Processing (ADP) opened at $118.47 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market cap of $52,540.00, a P/E ratio of 30.07, a price-to-earnings-growth ratio of 2.90 and a beta of 0.85. Automatic Data Processing has a 12-month low of $94.11 and a 12-month high of $121.77.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results 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. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 earnings per share. equities analysts forecast that Automatic Data Processing will post 3.91 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the business. Proficio Capital Partners LLC grew its position in Automatic Data Processing by 1.8% during the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after purchasing an additional 17 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in Automatic Data Processing during the 2nd quarter worth approximately $102,000. Wealthcare Advisory Partners LLC purchased a new position in Automatic Data Processing during the 3rd quarter worth approximately $114,000. Grove Bank & Trust grew its position in Automatic Data Processing by 16.4% during the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after purchasing an additional 170 shares in the last quarter. Finally, Family Capital Trust Co purchased a new position in Automatic Data Processing during the 3rd quarter worth approximately $137,000. Hedge funds and other institutional investors own 78.67% of the company’s stock.
Several equities research analysts recently commented on ADP shares. BidaskClub cut Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a report on Monday, October 16th. Bank of America raised Automatic Data Processing from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. Goldman Sachs Group raised Automatic Data Processing from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $116.02 to $135.00 in a report on Monday, December 11th. Finally, Morgan Stanley raised Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 target price on the stock in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $115.21.
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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