David Kwon sells 846 shares of Automatic Data Processing, Inc. stock. (NASDAQ:ADP).

VaselineAugust 29, 2024

0 4 minutes read

Automatic Data Processing, Inc. (NASDAQ:ADP – Get Your Free Report ) VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Automated data processing stock down 0.7%

Shares of Automated Data Processing stock opened at $272.68 on Thursday. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $276.77. The company has a fifty day simple moving average of $251.62 and a 200 day simple moving average of $248.46. The company has a quick ratio of 1.01, a current ratio of 1.01, and a debt-to-equity ratio of 0.66. The stock has a market cap of $111.61 billion, a PE ratio of 30.43, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP – Get Your Free Report ) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Automated Data Processing had a return on equity of 89.20% and a net margin of 19.54%. Automated data processing revenue increased 7.2% year-over-year. During the same period in the previous year, the business posted EPS of $1.89. Research analysts predict that Automatic Data Processing, Inc. will post 10.01 EPS for the current year.

Automated data processing is paying dividends

Want more great investment ideas?

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $1.40 dividend. This represents an annualized dividend of $5.60 and a dividend yield of 2.05%. The ex-dividend date is Friday, September 13. The dividend payout ratio (DPR) of the automated data processing is 62.50%.

Institutional trading of automatic data processing

Several hedge funds have recently added to or reduced their stakes in the business. Blue Chip Partners LLC grew its position in shares of Automatic Data Processing by 0.5% in the fourth quarter. Blue Chip Partners LLC now owns 12,725 shares of the business services provider’s stock worth $2,965,000 after purchasing an additional 65 shares during the period. Mather Group LLC. raised its holdings in Automatic Data Processing by 13.0% during the 4th quarter. Mather Group LLC. now owns 14,617 shares of the business services provider’s stock worth $3,405,000 after buying an additional 1,679 shares during the period. Van ECK Associates Corp raised its stake in Automatic Data Processing by 4.9% in the fourth quarter. Van ECK Associates Corp now owns 103,761 shares of the business services provider’s stock valued at $24,173,000 after purchasing an additional 4,872 shares in the last quarter. Ledyard National Bank boosted its holdings in shares of Automatic Data Processing by 8.6% in the fourth quarter. Ledyard National Bank now owns 11,730 shares of the business services provider’s stock valued at $2,733,000 after purchasing an additional 933 shares during the period. Finally, Kestra Private Wealth Services LLC raised its position in shares of Automatic Data Processing by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 31,113 shares of the business services provider’s stock worth $7,248,000 after acquiring an additional 455 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s shares.

The Wall Street analyst weighs in

ADP has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group lifted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Stifel Nicolaus boosted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Barclays upped their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Automatic Data Processing presently has an average rating of “Hold” and an average target price of $265.36, according to MarketBeat.com.

See the latest inventory report on ADP

Automatic data processing company profile

(Get a free report)

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.