Several large investors recently changed their stakes in Automatic Data Processing (ADP). Vanguard Group increased its holdings by 0.4%, now owning 39.77 million shares worth about $9.93 billion. Wellington Management raised its stake by 4.8% to approximately $1.28 billion. Ameriprise Financial increased its holdings by 12% to around $965 million. Capital Research upped its stake by 2.3%, now valued at $905 million. Legal & General also raised its holdings by 4.1%. Overall, 80.03% of ADP shares are owned by institutional investors.
ADP Stock Performance
ADP’s stock opened at $283.55. Key metrics include a market cap of $116.05 billion, a PE ratio of 31.65, and a 52-week range of $205.53 to $283.76. The 50-day average is $269.59, and the 200-day average is $253.43.
ADP reported quarterly earnings on July 31, posting $2.09 EPS, above the $2.06 estimate, with revenue at $4.80 billion. Year-over-year, revenue grew by 7.2%. Analysts predict a total EPS of $10.04 for the current fiscal year.
Dividends
ADP declared a quarterly dividend of $1.40 per share, paid on October 1. This results in an annual yield of 1.97%. The dividend payout ratio is 62.50%.
Insider Transactions
Director Carlos A. Rodriguez sold 9,203 shares at $269.45 each, totaling about $2.48 million. VP Michael A. Bonarti sold 26,442 shares at $270.96 for around $7.16 million. Insiders sold a total of 58,817 shares valued at nearly $16 million last quarter.
Analyst Forecasts
Recent research showed varied outlooks for ADP stock, with price targets ranging from $250 to $310. Analysts generally give a consensus “Hold” rating with a target price of $267.83.
Company Overview
Automatic Data Processing, Inc. offers cloud-based human resources solutions globally, operating in Employer Services and Professional Employer Organization segments.
Further Reading
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