Automatic Data Processing (NASDAQ:ADP) Stock: Insider Virginia Magliulo Sells 2,927 Shares

Automatic Data Processing, Inc. (NASDAQ:ADP) VP Virginia Magliulo sold 2,927 shares of the company’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $293.70, for a total transaction of $859,659.90. Following the transaction, the vice president owned 14,865 shares of the company’s stock, valued at approximately $4,365,850.50. The trade was a 16.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Automatic Data Processing Stock Down 0.9%

Shares of NASDAQ:ADP opened at $296.01 on Wednesday. The company has a market cap of $116.85 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 2.68 and a beta of 0.77. The firm’s 50-day simple moving average is $277.87 and its 200-day simple moving average is $241.22. The company has a quick ratio of 1.05, a current ratio of 1.03 and a debt-to-equity ratio of 0.98. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $309.40.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 28th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.48 billion. Automatic Data Processing had a net margin of 20.33% and a return on equity of 77.01%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.49 earnings per share. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 12.37 earnings per share for the current year.

Institutional Trading of Automatic Data Processing

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at about $8,097,229,000. Bank of America Corp DE purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth about $1,231,175,000. Deutsche Bank AG purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth about $994,937,000. Bank of New York Mellon Corp acquired a new stake in Automatic Data Processing during the 2nd quarter worth approximately $725,513,000. Finally, Legal & General Group Plc acquired a new stake in Automatic Data Processing during the 2nd quarter worth approximately $562,425,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing News Roundup

Here are the key news stories impacting Automatic Data Processing this week:

• Positive Sentiment: Cantor Fitzgerald raised its price target to $336 from $310 and maintained an “overweight” rating. ADP also recently beat quarterly EPS and revenue estimates, with revenue up 6.1% year over year. Cantor Fitzgerald ratings
• Neutral Sentiment: ADP was highlighted as a Dividend Aristocrat with a long history of annual payout increases, supporting its appeal to income-focused investors; the article did not report a new dividend increase. Dividend Aristocrats article
• Negative Sentiment: Two ADP vice presidents disclosed share sales: Michael Bonarti sold 7,487 shares for about $2.25 million, and Virginia Magliulo sold 2,927 shares for about $860,000. Both transactions were conducted under pre-arranged Rule 10b5-1 plans, which makes them a less direct bearish signal, but insider selling can still weigh on sentiment. Bonarti SEC filing Magliulo SEC filing

Analyst Upgrades and Downgrades

Several research firms have issued reports on ADP. Cantor Fitzgerald boosted their target price on Automatic Data Processing from $310.00 to $336.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. BMO Capital Markets raised their price target on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Jefferies Financial Group raised their price target on Automatic Data Processing from $225.00 to $250.00 and gave the company an “underperform” rating in a report on Wednesday, October 28th. Morgan Stanley lifted their price target on Automatic Data Processing from $286.00 to $288.00 and gave the company an “equal weight” rating in a research note on Thursday, October 29th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $290.00 price objective on shares of Automatic Data Processing in a report on Thursday, October 29th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $285.00.

About Automatic Data Processing

Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.