Automatic Data Processing, Inc. (NASDAQ:ADP) VP Sreenivasa Kutam Sells 38,975 Shares

Automatic Data Processing, Inc. (NASDAQ:ADP) VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Automatic Data Processing Stock Down 0.0 %

ADP stock opened at $304.73 on Friday. Automatic Data Processing, Inc. has a 52-week low of $225.38 and a 52-week high of $306.92. The company’s 50 day simple moving average is $284.12 and its 200-day simple moving average is $261.82. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $124.17 billion, a P/E ratio of 32.52, a P/E/G ratio of 3.37 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the previous year, the business earned $2.08 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.02%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s payout ratio is currently 59.77%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. TD Cowen increased their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Jefferies Financial Group lifted their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Citigroup lifted their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $289.91.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. LPL Financial LLC increased its stake in Automatic Data Processing by 3.1% in the 3rd quarter. LPL Financial LLC now owns 571,969 shares of the business services provider’s stock valued at $158,281,000 after buying an additional 16,987 shares during the period. Landscape Capital Management L.L.C. increased its stake in Automatic Data Processing by 131.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 11,351 shares of the business services provider’s stock valued at $3,141,000 after buying an additional 6,450 shares during the period. Intech Investment Management LLC increased its stake in Automatic Data Processing by 24.2% in the 3rd quarter. Intech Investment Management LLC now owns 75,950 shares of the business services provider’s stock valued at $21,018,000 after buying an additional 14,813 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Automatic Data Processing by 4.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 409,686 shares of the business services provider’s stock valued at $113,372,000 after buying an additional 16,318 shares during the period. Finally, Cornerstone Advisors LLC increased its stake in Automatic Data Processing by 28.8% in the 3rd quarter. Cornerstone Advisors LLC now owns 18,800 shares of the business services provider’s stock valued at $5,203,000 after buying an additional 4,200 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.