Carlos A. Rodriguez sells 37,594 shares of Automatic Data Processing, Inc. (NASDAQ: ADP)

Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) CEO Carlos A. Rodriguez sold 37,594 shares of the company in a trade that took place on Tuesday, September 13. The stock was sold at an average price of $237.95, for a total value of $8,945,492.30. As a result of the sale, the CEO now directly owns 44,426 shares of the company, valued at $10,571,166.70. The sale was disclosed in a legal filing with the SEC, accessible via this link.

Automatic processing of Stock Performance data

NASDAQ:ADP shares traded down $3.77 during Thursday’s session, hitting $230.71. 2,096,340 shares of the company were traded, against an average volume of 1,834,019. Automatic Data Processing, Inc. has a 52-week low of $192.26 and a 52-week high of $261.59. The stock has a 50-day moving average of $238.56 and a 200-day moving average of $224.61. The company has a debt ratio of 0.93, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $95.86 billion, a PE ratio of 33.22, a P/E/G ratio of 2.43 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP – Get Rating) last released its results on Wednesday, July 27. The business services provider reported EPS of $1.50 for the quarter, beating the consensus estimate of $1.48 by $0.02. Automatic Data Processing has a return on equity of 66.25% and a net margin of 17.87%. The company posted revenue of $4.13 billion in the quarter, versus a consensus estimate of $4.05 billion. In the same quarter last year, the company achieved EPS of $1.20. The company’s revenue increased by 10.5% compared to the same quarter last year. As a group, equity research analysts expect Automatic Data Processing, Inc. to post EPS of 8.05 for the current year.

Automatic data processing announces a dividend

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The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1. Shareholders of record on Friday, September 9 will receive a dividend of $1.04 per share. This represents a dividend of $4.16 on an annualized basis and a yield of 1.80%. The ex-date of this dividend is Thursday, September 8. The distribution rate of automatic data processing is currently 59.34%.

Institutional Automatic Data Processing Trading

Several hedge funds and other institutional investors have recently bought and sold shares of ADP. Prudential PLC bought a new position in shares of Automatic Data Processing during the 4th quarter at a value of $2,617,000. MAI Capital Management increased its stake in IT by 1.4% in the 4th quarter. MAI Capital Management now owns 8,443 shares of the business services provider worth $2,082,000 after buying 118 additional shares during the period. Ensign Peak Advisors Inc increased its stake in automatic data processing by 45.0% in the 4th quarter. Ensign Peak Advisors Inc now owns 91,637 shares of the business services provider worth $22,595,000 after purchasing an additional 28,432 shares during the period. Charles Schwab Investment Management Inc. increased its stake in automatic data processing by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,227,698 shares of the business services provider worth $1,535,627,000 after purchasing an additional 208,206 shares during the period. Finally, Cornerstone Capital Inc. increased its stake in Automatic Data Processing by 46.5% in the 4th quarter. Cornerstone Capital Inc. now owns 1,576 shares of the business services provider worth $389,000 after purchasing an additional 500 shares during the period. Institutional investors hold 79.06% of the company’s shares.

Wall Street analysts predict growth

A number of equity analysts have published reports on ADP shares. Wolfe Research cut its price target on automatic data processing stocks from $235.00 to $210.00 in a Wednesday, July 20 report. Mizuho raised its price target on automatic data processing stock from $250.00 to $257.00 and gave the stock a “buy” rating in a Monday, Aug. 1 research report. Cowen raised its target price on automatic data processing stocks from $225.00 to $230.00 in a Thursday, July 28 research report. Barclays raised its price target on Automatic Data Processing shares to $280.00 in a Tuesday, August 9 research report. Finally, Morgan Stanley raised its price target on automatic data processing from $235.00 to $245.00 and gave the company an “equal weight” rating in a Thursday, July 28 research report. Nine research analysts gave the stock a hold rating and two gave the stock a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $235.92.

Automatic Data Processing Company Profile

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

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