Insider Selling: Automatic Data Processing, Inc. (NASDAQ:ADP) VP Sells $872,254.02 in Stock

Automatic Data Processing, Inc. (NASDAQ:ADP) VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now owns 41,696 shares in the company, valued at approximately $11,440,548.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Automatic Data Processing Stock Down 0.2 %

Shares of NASDAQ ADP opened at $269.56 on Friday. The company has a 50 day simple moving average of $256.39 and a 200 day simple moving average of $249.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $278.24. The firm has a market cap of $110.33 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 3.00 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 earnings per share. On average, research analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ADP shares. Jefferies Financial Group raised their price target on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Bank of America increased their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Barclays raised their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $265.36.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Automatic Data Processing by 0.4% during the first quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock valued at $9,932,020,000 after buying an additional 173,298 shares during the last quarter. Wellington Management Group LLP lifted its stake in Automatic Data Processing by 4.8% in the fourth quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock valued at $1,279,570,000 after purchasing an additional 249,566 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Automatic Data Processing by 12.0% during the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after purchasing an additional 435,093 shares during the period. Capital Research Global Investors increased its position in Automatic Data Processing by 2.3% in the first quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock worth $905,354,000 after buying an additional 81,869 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Automatic Data Processing by 4.1% in the second quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock worth $846,912,000 after buying an additional 139,561 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

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.