Automatic Data Processing VP Sells $728,888.76 in Stock (ADP)

Automatic Data Processing (NASDAQ:ADP) VP Alan Sheiness sold 8,532 shares of Automatic Data Processing stock on the open market in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $85.43, for a total transaction of $728,888.76. Following the completion of the transaction, the vice president now directly owns 39,692 shares in the company, valued at approximately $3,390,887.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Automatic Data Processing (NASDAQ:ADP) opened at 84.35 on Friday. Automatic DataProcessing has a 52-week low of $63.1343 and a 52-week high of $87.18. The stock has a 50-day moving average of $84.47 and a 200-day moving average of $78.05. The company has a market cap of $40.661 billion and a price-to-earnings ratio of 27.53.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts expect that Automatic Data Processing will post $2.92 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Wednesday, March 11th.

A number of analysts have recently weighed in on ADP shares. Analysts at Credit Suisse downgraded shares of Automatic Data Processing from an “outperform” rating to a “neutral” rating in a research note on Friday, January 16th. Analysts at Citigroup Inc. reiterated a “hold” rating and set a $83.00 price target (up previously from $77.00) on shares of Automatic Data Processing in a research note on Friday, January 16th. Analysts at Stifel Nicolaus downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating and set a $83.00 price target on the stock in a research note on Friday, December 5th. Finally, analysts at Topeka Capital Markets initiated coverage on shares of Automatic Data Processing in a research note on Friday, November 21st. They set a “sell” rating and a $73.00 price target on the stock. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $84.40.

Automatic Data Processing, Inc (NASDAQ:ADP) is a provider of human capital management solutions to employers and computing solutions to vehicle dealers. ADP operates through three business segments: Employer Services, Professional Employer Organization (PEO) Services and Dealer Services.