Investors sold shares of Automatic Data Processing (NASDAQ:ADP) on strength during trading on Thursday. $33.31 million flowed into the stock on the tick-up and $106.84 million flowed out of the stock on the tick-down, for a money net flow of $73.53 million out of the stock. Of all equities tracked, Automatic Data Processing had the 7th highest net out-flow for the day. Automatic Data Processing traded up $0.38 for the day and closed at $116.48
A number of equities analysts recently weighed in on ADP shares. Citigroup reissued a “neutral” rating and issued a $118.00 price target (up from $110.00) on shares of Automatic Data Processing in a report on Friday, January 12th. BMO Capital Markets cut their price target on shares of Automatic Data Processing from $122.00 to $121.00 and set an “outperform” rating on the stock in a report on Thursday, February 1st. BidaskClub downgraded shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, Stifel Nicolaus boosted their price target on shares of Automatic Data Processing from $113.00 to $133.00 and gave the stock a “hold” rating in a report on Thursday, February 1st. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $118.43.
The firm has a market cap of $52,035.43, a price-to-earnings ratio of 30.25, a P/E/G ratio of 2.58 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s payout ratio is 65.45%.
In related news, VP Stuart Sackman sold 238 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $121.65, for a total value of $28,952.70. Following the transaction, the vice president now directly owns 18,676 shares in the company, valued at $2,271,935.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $118.09, for a total transaction of $11,307,826.04. Following the transaction, the chief executive officer now owns 124,722 shares in the company, valued at $14,728,420.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 219,666 shares of company stock worth $25,650,681. Insiders own 0.25% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. D.B. Root & Company LLC bought a new position in Automatic Data Processing during the fourth quarter valued at approximately $2,295,000. KCM Investment Advisors LLC grew its position in Automatic Data Processing by 0.4% during the fourth quarter. KCM Investment Advisors LLC now owns 183,643 shares of the business services provider’s stock valued at $21,521,000 after acquiring an additional 803 shares during the last quarter. Cedar Hill Associates LLC grew its position in Automatic Data Processing by 40.4% during the fourth quarter. Cedar Hill Associates LLC now owns 3,567 shares of the business services provider’s stock valued at $418,000 after acquiring an additional 1,026 shares during the last quarter. Penbrook Management LLC bought a new position in Automatic Data Processing during the fourth quarter valued at approximately $894,000. Finally, Xact Kapitalforvaltning AB grew its position in Automatic Data Processing by 12.2% during the fourth quarter. Xact Kapitalforvaltning AB now owns 87,999 shares of the business services provider’s stock valued at $10,313,000 after acquiring an additional 9,539 shares during the last quarter. Institutional investors and hedge funds own 78.57% of the company’s stock.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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