Investors Sell Automatic Data Processing (ADP) on Strength (ADP)
Investors sold shares of Automatic Data Processing (NYSE:ADP) on strength during trading 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 companies 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
ADP has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $93.00 price target on shares of Automatic Data Processing in a research report on Friday, July 29th. Jefferies Group upped their price target on shares of Automatic Data Processing from $75.00 to $81.00 and gave the stock an “underperform” rating in a research report on Monday, August 1st. Citigroup Inc. reaffirmed 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. Finally, Robert W. Baird lowered shares of Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $94.00 price target for the company. in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $94.33.
The firm has a market capitalization of $40.99 billion and a P/E ratio of 27.66. The stock has a 50 day moving average of $92.20 and a 200-day moving average of $88.50.
Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.94 billion. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS. Analysts predict 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 issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Wednesday, September 7th.
In other Automatic Data Processing news, VP Michael C. Eberhard sold 3,412 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $92.00, for a total value of $313,904.00. Following the completion of the transaction, the vice president now directly owns 27,524 shares in the company, valued at $2,532,208. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Dermot J. O’brien sold 8,532 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $87.70, for a total transaction of $748,256.40. Following the completion of the transaction, the vice president now owns 30,445 shares of the company’s stock, valued at $2,670,026.50. 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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