Insider Selling: Automatic Data Processing (NASDAQ:ADP) VP Sells $264,128.52 in Stock

Automatic Data Processing, Inc. (NASDAQ:ADP) VP Virginia Magliulo sold 852 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $310.01, for a total transaction of $264,128.52. Following the transaction, the vice president owned 14,865 shares in the company, valued at $4,608,298.65. This trade represents a 5.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Virginia Magliulo also recently made the following trade(s):

• On Friday, October 30th, Virginia Magliulo sold 2,927 shares of Automatic Data Processing stock. The shares were sold at an average price of $293.70, for a total transaction of $859,659.90.

Automatic Data Processing Stock Performance

Shares of ADP opened at $303.35 on Monday. The company’s fifty day simple moving average is $279.18 and its 200-day simple moving average is $241.91. The company has a market cap of $119.75 billion, a P/E ratio of 26.89, a P/E/G ratio of 2.72 and a beta of 0.77. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.98. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $310.98.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 28th. The business services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Automatic Data Processing had a net margin of 20.33% and a return on equity of 77.01%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.49 EPS. As a group, analysts expect that Automatic Data Processing, Inc. will post 12.38 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ADP. MSH Capital Advisors LLC purchased a new position in Automatic Data Processing in the 3rd quarter worth approximately $245,000. Cornerstone Advisory LLC grew its position in shares of Automatic Data Processing by 1.2% in the third quarter. Cornerstone Advisory LLC now owns 3,401 shares of the business services provider’s stock valued at $878,000 after purchasing an additional 40 shares in the last quarter. Vista Capital Partners Inc. purchased a new stake in shares of Automatic Data Processing in the third quarter valued at approximately $254,000. BankPlus Trust Department increased its holdings in shares of Automatic Data Processing by 4.3% in the third quarter. BankPlus Trust Department now owns 13,635 shares of the business services provider’s stock valued at $3,519,000 after purchasing an additional 557 shares during the last quarter. Finally, Moors & Cabot Inc. increased its holdings in shares of Automatic Data Processing by 3.8% in the third quarter. Moors & Cabot Inc. now owns 4,979 shares of the business services provider’s stock valued at $1,285,000 after purchasing an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Cantor Fitzgerald boosted their target price on Automatic Data Processing from $310.00 to $336.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Jefferies Financial Group increased their price target on Automatic Data Processing from $225.00 to $250.00 and gave the stock an “underperform” rating in a report on Wednesday, October 28th. Wells Fargo & Company raised their price target on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Weiss Ratings raised Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 22nd. Finally, UBS Group boosted their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $285.00.

Trending Headlines about Automatic Data Processing

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

• Positive Sentiment: ADP’s October employment report showed private employers added 86,000 jobs, above expectations of 69,000. Continued hiring could support demand for ADP’s payroll and human-resources services. October private-sector hiring report
• Neutral Sentiment: Three ADP vice presidents—Michael Bonarti, Virginia Magliulo and Jonathan Lehberger—reported share sales. Each transaction was made under a pre-arranged Rule 10b5-1 plan, so the sales are not necessarily a signal about their outlook for the company. SEC filing for Bonarti sale SEC filing for Magliulo sale SEC filing for Lehberger sale
• Negative Sentiment: Recent valuation commentary argues ADP may be priced above estimated fair value, including one analysis identifying a potential 13% gap. Such concerns could temper demand for the shares, particularly after a strong run-up. ADP fair-value analysis ADP cash-flow valuation analysis

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) provides payroll processing and human resources technology and services to businesses of varying sizes. Its offerings include payroll administration, tax filing, benefits administration, workforce management, talent management, and human capital management software.

ADP also provides services such as compliance support and professional employer organization solutions, which help businesses manage employment responsibilities. Its products combine software with payroll and HR services to support organizations’ workforce operations.

Founded in 1949 as Automatic Payrolls, Inc, the company has grown from a payroll-processing business into a global provider of HR and workforce solutions.