Michael C. Eberhard Sells 9,100 Shares of Automatic Data Processing (ADP) Stock

Automatic Data Processing (NASDAQ:ADP) VP Michael C. Eberhard sold 9,100 shares of the firm’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $150.00, for a total transaction of $1,365,000.00. Following the sale, the vice president now directly owns 48,468 shares in the company, valued at $7,270,200. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Automatic Data Processing stock opened at $149.07 on Tuesday. The stock has a market cap of $65.91 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 2.57 and a beta of 0.91. Automatic Data Processing has a 12-month low of $107.42 and a 12-month high of $151.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, August 1st. The business services provider reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.02. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.29 billion. Automatic Data Processing had a net margin of 12.16% and a return on equity of 50.17%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. equities research analysts expect that Automatic Data Processing will post 5.18 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $2.76 annualized dividend and a dividend yield of 1.85%. Automatic Data Processing’s payout ratio is currently 63.45%.

Several hedge funds have recently made changes to their positions in ADP. Exeter Financial LLC raised its holdings in Automatic Data Processing by 3.3% in the second quarter. Exeter Financial LLC now owns 12,434 shares of the business services provider’s stock valued at $1,668,000 after buying an additional 401 shares during the period. Royal London Asset Management Ltd. purchased a new position in Automatic Data Processing in the second quarter valued at approximately $25,023,000. FMR LLC raised its holdings in Automatic Data Processing by 8.1% in the second quarter. FMR LLC now owns 756,868 shares of the business services provider’s stock valued at $101,526,000 after buying an additional 56,414 shares during the period. HRT Financial LLC purchased a new position in Automatic Data Processing in the second quarter valued at approximately $827,000. Finally, WealthTrust Fairport LLC raised its holdings in Automatic Data Processing by 8.2% in the second quarter. WealthTrust Fairport LLC now owns 52,267 shares of the business services provider’s stock valued at $7,011,000 after buying an additional 3,953 shares during the period. Institutional investors and hedge funds own 77.57% of the company’s stock.

Several research firms have issued reports on ADP. BMO Capital Markets raised their price target on shares of Automatic Data Processing from $126.00 to $138.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 13th. Wolfe Research began coverage on shares of Automatic Data Processing in a research note on Tuesday, July 17th. They set an “outperform” rating on the stock. Credit Suisse Group began coverage on shares of Automatic Data Processing in a research note on Friday, August 10th. They set an “outperform” rating and a $160.00 price target on the stock. Morgan Stanley raised their price target on shares of Automatic Data Processing from $122.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 13th. Finally, BidaskClub cut shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $141.07.

About Automatic Data Processing

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

See Also: Return on Equity (ROE)

Insider Buying and Selling by Quarter for Automatic Data Processing (NASDAQ:ADP)

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