Traders Buy Shares of Automatic Data Processing (ADP) on Weakness
Traders purchased shares of Automatic Data Processing (NYSE:ADP) on weakness during trading on Monday. $20.61 million flowed into the stock on the tick-up and $14.58 million flowed out of the stock on the tick-down, for a money net flow of $6.03 million into the stock. Of all stocks tracked, Automatic Data Processing had the 18th highest net in-flow for the day. Automatic Data Processing traded down ($0.20) for the day and closed at $89.59
A number of brokerages have commented on ADP. Jefferies Group lifted their target price on Automatic Data Processing from $75.00 to $81.00 and gave the company an “underperform” rating in a research note on Monday, August 1st. JPMorgan Chase & Co. restated a “hold” rating and issued a $93.00 target price on shares of Automatic Data Processing in a research note on Friday, July 29th. Citigroup Inc. restated a “neutral” rating and issued a $90.00 target price (up from $89.00) on shares of Automatic Data Processing in a research note on Friday, July 29th. Robert W. Baird downgraded Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $94.00 target price for the company. in a research note on Friday, July 29th. Finally, Zacks Investment Research downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $94.33.
The stock has a 50-day moving average of $91.62 and a 200 day moving average of $88.96. The firm has a market capitalization of $40.87 billion and a price-to-earnings ratio of 27.58.
Automatic Data Processing (NYSE:ADP) last released its earnings results on Thursday, July 28th. The company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.02. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the firm earned $0.55 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. Analysts anticipate that Automatic Data Processing will post $3.62 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Wednesday, September 7th.
In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 67,064 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $15,829,565. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael C. Eberhard sold 3,412 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $92.00, for a total transaction of $313,904.00. Following the transaction, the vice president now directly owns 27,524 shares of the company’s stock, valued at approximately $2,532,208. 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.
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