David Foskett Sells 1,067 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP) Stock

Automatic Data Processing, Inc. (NASDAQ:ADP) VP David Foskett sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

David Foskett also recently made the following trade(s):

• On Monday, January 6th, David Foskett sold 1,004 shares of Automatic Data Processing stock. The shares were sold at an average price of $289.29, for a total value of $290,447.16.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $291.69 on Wednesday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63. The firm has a 50-day moving average price of $298.48 and a two-hundred day moving average price of $279.35. The company has a market capitalization of $118.85 billion, a P/E ratio of 31.13, a P/E/G ratio of 3.50 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same period in the previous year, the company posted $2.08 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were issued a dividend of $1.54 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, December 13th. Automatic Data Processing’s dividend payout ratio is 65.74%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ADP. Tower Wealth Partners Inc. increased its holdings in Automatic Data Processing by 3.4% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock valued at $292,000 after buying an additional 35 shares during the period. Harbour Investments Inc. boosted its position in shares of Automatic Data Processing by 2.1% during the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after acquiring an additional 36 shares in the last quarter. Petredis Investment Advisors LLC increased its stake in Automatic Data Processing by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock valued at $2,902,000 after acquiring an additional 37 shares during the last quarter. Moors & Cabot Inc. raised its position in Automatic Data Processing by 0.7% during the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock valued at $1,360,000 after purchasing an additional 39 shares in the last quarter. Finally, Austin Private Wealth LLC lifted its stake in Automatic Data Processing by 4.4% during the third quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider’s stock worth $255,000 after purchasing an additional 39 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ADP. TD Cowen increased their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Citigroup increased their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Barclays lifted their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. UBS Group increased their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Saturday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $289.91.

About Automatic Data Processing

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.