Automatic Data Processing, Inc. (NASDAQ:ADP) VP Brian L. Michaud Sells 1,500 Shares

Automatic Data Processing, Inc. (NASDAQ:ADP) VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. The trade was a 11.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Automatic Data Processing Price Performance

ADP stock opened at $307.23 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The firm has a 50-day moving average of $304.44 and a 200 day moving average of $296.92. The company has a market cap of $125.18 billion, a P/E ratio of 32.04, a PEG ratio of 3.62 and a beta of 0.74.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Analyst Upgrades and Downgrades

ADP has been the topic of several recent analyst reports. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Barclays raised their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, UBS Group upped their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $302.30.

Institutional Trading of Automatic Data Processing

A number of hedge funds and other institutional investors have recently modified their holdings of ADP. Littlejohn Financial Services Inc. bought a new position in Automatic Data Processing during the 4th quarter valued at approximately $708,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Automatic Data Processing by 5.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after acquiring an additional 15,340 shares during the last quarter. Bath Savings Trust Co increased its holdings in shares of Automatic Data Processing by 2.0% during the fourth quarter. Bath Savings Trust Co now owns 99,299 shares of the business services provider’s stock valued at $29,068,000 after acquiring an additional 1,951 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Automatic Data Processing by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider’s stock worth $146,581,000 after purchasing an additional 22,766 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Automatic Data Processing by 8.4% in the 3rd quarter. Franklin Resources Inc. now owns 667,068 shares of the business services provider’s stock worth $194,117,000 after purchasing an additional 51,828 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

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.