Automatic Data Processing, Inc. (NASDAQ:ADP) VP Michael A. Bonarti Sells 26,442 Shares

Automatic Data Processing, Inc. (NASDAQ:ADP) VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Automatic Data Processing Trading Up 1.2 %

NASDAQ:ADP opened at $274.68 on Wednesday. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $275.10. The firm has a market cap of $112.42 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average price of $251.01 and a 200 day moving average price of $248.29.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter last year, the business posted $1.89 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 10.01 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Institutional Investors Weigh In On Automatic Data Processing

A number of hedge funds and other institutional investors have recently modified their holdings of ADP. Blue Chip Partners LLC lifted its holdings in Automatic Data Processing by 0.5% during the 4th quarter. Blue Chip Partners LLC now owns 12,725 shares of the business services provider’s stock worth $2,965,000 after buying an additional 65 shares during the last quarter. Mather Group LLC. lifted its stake in Automatic Data Processing by 13.0% during the fourth quarter. Mather Group LLC. now owns 14,617 shares of the business services provider’s stock worth $3,405,000 after purchasing an additional 1,679 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Automatic Data Processing by 4.9% in the fourth quarter. Van ECK Associates Corp now owns 103,761 shares of the business services provider’s stock valued at $24,173,000 after purchasing an additional 4,872 shares in the last quarter. Ledyard National Bank increased its stake in Automatic Data Processing by 8.6% in the fourth quarter. Ledyard National Bank now owns 11,730 shares of the business services provider’s stock valued at $2,733,000 after purchasing an additional 933 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its holdings in Automatic Data Processing by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 31,113 shares of the business services provider’s stock worth $7,248,000 after purchasing an additional 455 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on ADP shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, August 1st. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. lifted their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. TD Cowen decreased their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Finally, Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $265.36.

Automatic Data Processing Company Profile

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