Automatic Data Processing (NASDAQ:ADP) VP Michael Bonarti Sells 7,487 Shares of Company Stock

Automatic Data Processing, Inc. (NASDAQ:ADP) VP Michael Bonarti sold 7,487 shares of Automatic Data Processing stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $300.00, for a total value of $2,246,100.00. Following the completion of the transaction, the vice president owned 81,849 shares in the company, valued at approximately $24,554,700. This represents a 8.38% decrease in their position. The transaction was disclosed in a legal filing 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 0.9%

Shares of NASDAQ ADP opened at $296.01 on Wednesday. The company has a market cap of $116.85 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 2.68 and a beta of 0.77. The company has a current ratio of 1.03, a quick ratio of 1.05 and a debt-to-equity ratio of 0.98. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $309.40. The stock has a 50-day moving average price of $277.87 and a two-hundred day moving average price of $241.22.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 28th. The business services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.48 billion. Automatic Data Processing had a net margin of 20.33% and a return on equity of 77.01%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $2.49 EPS. As a group, analysts forecast that Automatic Data Processing, Inc. will post 12.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADP has been the topic of a number of research reports. Weiss Ratings raised shares of Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 22nd. Jefferies Financial Group increased their price target on Automatic Data Processing from $225.00 to $250.00 and gave the company an “underperform” rating in a research note on Wednesday, October 28th. Stifel Nicolaus increased their price target on Automatic Data Processing from $285.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, October 29th. BMO Capital Markets raised their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Finally, Guggenheim restated a “buy” rating and set a $340.00 price objective on shares of Automatic Data Processing in a research report on Thursday, October 29th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $285.00.

Hedge Funds Weigh In On Automatic Data Processing

Several institutional investors have recently added to or reduced their stakes in ADP. BlackRock Inc. bought a new stake in Automatic Data Processing during the 2nd quarter valued at about $8,097,229,000. Bank of America Corp DE purchased a new position in Automatic Data Processing in the second quarter worth about $1,231,175,000. Deutsche Bank AG purchased a new position in Automatic Data Processing in the second quarter worth about $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Automatic Data Processing by 3.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock worth $952,112,000 after buying an additional 129,376 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Automatic Data Processing in the second quarter worth approximately $725,513,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Automatic Data Processing

Here are the key news stories impacting Automatic Data Processing this week:

• Positive Sentiment: Cantor Fitzgerald raised its price target to $336 from $310 and maintained an “overweight” rating. ADP also recently beat quarterly EPS and revenue estimates, with revenue up 6.1% year over year. Cantor Fitzgerald ratings
• Neutral Sentiment: ADP was highlighted as a Dividend Aristocrat with a long history of annual payout increases, supporting its appeal to income-focused investors; the article did not report a new dividend increase. Dividend Aristocrats article
• Negative Sentiment: Two ADP vice presidents disclosed share sales: Michael Bonarti sold 7,487 shares for about $2.25 million, and Virginia Magliulo sold 2,927 shares for about $860,000. Both transactions were conducted under pre-arranged Rule 10b5-1 plans, which makes them a less direct bearish signal, but insider selling can still weigh on sentiment. Bonarti SEC filing Magliulo SEC filing

About Automatic Data Processing

Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.