Brian Michaud Sells 120 Shares of Automatic Data Processing (NASDAQ:ADP) Stock

Automatic Data Processing, Inc. (NASDAQ:ADP) VP Brian Michaud sold 120 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the transaction, the vice president directly owned 18,442 shares in the company, valued at approximately $5,158,227.40. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Automatic Data Processing Stock Down 0.1%

Shares of NASDAQ ADP opened at $282.78 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $305.31. The firm has a 50-day moving average price of $252.07 and a 200 day moving average price of $226.84. The stock has a market capitalization of $112.34 billion, a price-to-earnings ratio of 25.85 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the prior year, the business posted $2.26 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.16%.

Hedge Funds Weigh In On Automatic Data Processing

Institutional investors have recently made changes to their positions in the stock. Imprint Wealth LLC acquired a new position in Automatic Data Processing in the 3rd quarter valued at about $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth about $26,000. Bard Associates Inc. purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth about $28,000. Whipplewood Advisors LLC raised its position in shares of Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after buying an additional 137 shares during the last quarter. Finally, Prosperity Bancshares Inc purchased a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $33,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of research analyst reports. Citigroup boosted their target price on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Mizuho cut their price target on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. UBS Group increased their price objective on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Finally, Guggenheim lifted their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $273.50.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.