Investors Sell Shares of Automatic Data Processing (ADP) on Strength (ADP)
Traders sold shares of Automatic Data Processing (NYSE:ADP) on strength during trading hours on Friday. $15.74 million flowed into the stock on the tick-up and $43.26 million flowed out of the stock on the tick-down, for a money net flow of $27.52 million out of the stock. Of all equities tracked, Automatic Data Processing had the 0th highest net out-flow for the day. Automatic Data Processing traded up $0.02 for the day and closed at $89.85
A number of brokerages recently issued reports on ADP. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research report on Wednesday, June 29th. Citigroup Inc. reissued a “neutral” rating and set a $90.00 price target (up previously from $89.00) on shares of Automatic Data Processing in a research report on Friday, July 29th. Sanford C. Bernstein raised Automatic Data Processing from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $97.00 to $110.00 in a research report on Monday, July 11th. Jefferies Group increased their price target on Automatic Data Processing from $75.00 to $81.00 and gave the stock an “underperform” rating in a research report on Monday, August 1st. Finally, JPMorgan Chase & Co. reissued a “hold” rating and set a $93.00 price target on shares of Automatic Data Processing in a research report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $94.33.
The firm has a market cap of $40.99 billion and a PE ratio of 27.66. The firm’s 50 day moving average price is $92.20 and its 200 day moving average price is $88.50.
Automatic Data Processing (NYSE:ADP) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.94 billion. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 earnings per share. On average, analysts expect that Automatic Data Processing will post $3.63 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Wednesday, September 7th.
In other Automatic Data Processing news, VP Deborah L. Dyson sold 898 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $88.06, for a total value of $79,077.88. Following the transaction, the vice president now directly owns 11,891 shares in the company, valued at $1,047,121.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Carlos A. Rodriguez sold 67,064 shares of the business’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $95.00, for a total transaction of $6,371,080.00. Following the completion of the transaction, the chief executive officer now owns 166,627 shares in the company, valued at $15,829,565. The disclosure for this sale can be found here.
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions and business process outsourcing. The Company operates through two segments: Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled HCM solutions.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.