Automatic Data Processing, Inc. (NASDAQ:ADP) Short Interest Update – MarketBeat

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Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 4,600,000 shares, an increase of 7.0% from the August 15th total of 4,300,000 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 1,540,000 shares, the days-to-cover ratio is currently 3.0 days.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $235.72 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $97.95 billion, a PE ratio of 33.33, a P/E/G ratio of 2.42 and a beta of 0.82. Automatic Data Processing has a 12 month low of $192.26 and a 12 month high of $261.59. The stock has a 50-day moving average price of $239.17 and a two-hundred day moving average price of $225.28.

Automatic Data Processing (NASDAQ:ADPGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.02. Automatic Data Processing had a return on equity of 66.25% and a net margin of 17.87%. The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period last year, the company earned $1.20 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. Analysts expect that Automatic Data Processing will post 8.05 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.76%. Automatic Data Processing’s dividend payout ratio (DPR) is 59.34%.

Analyst Upgrades and Downgrades

ADP has been the topic of several analyst reports. Wolfe Research dropped their price objective on Automatic Data Processing from $235.00 to $210.00 in a research report on Wednesday, July 20th. Mizuho upped their price objective on Automatic Data Processing from $250.00 to $257.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Cowen upped their price objective on Automatic Data Processing from $225.00 to $230.00 in a research report on Thursday, July 28th. Morgan Stanley upped their price objective on Automatic Data Processing from $235.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. Finally, Cowen upped their price objective on Automatic Data Processing from $225.00 to $230.00 in a research report on Thursday, July 28th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $235.92.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 58,864 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $236.69, for a total value of $13,932,520.16. Following the transaction, the chief executive officer now directly owns 44,426 shares of the company’s stock, valued at approximately $10,515,189.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Carlos A. Rodriguez sold 58,864 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $236.69, for a total transaction of $13,932,520.16. Following the sale, the chief executive officer now directly owns 44,426 shares of the company’s stock, valued at approximately $10,515,189.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Donald Weinstein sold 10,150 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $250.00, for a total value of $2,537,500.00. Following the sale, the vice president now directly owns 41,035 shares in the company, valued at $10,258,750. The disclosure for this sale can be found here. Insiders have sold a total of 107,349 shares of company stock valued at $25,576,129 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Automatic Data Processing

A number of hedge funds have recently made changes to their positions in the stock. Hexagon Capital Partners LLC acquired a new stake in Automatic Data Processing during the second quarter worth approximately $26,000. Crewe Advisors LLC acquired a new stake in Automatic Data Processing during the first quarter worth approximately $28,000. Wellington Shields & Co. LLC acquired a new stake in Automatic Data Processing during the second quarter worth approximately $29,000. Delos Wealth Advisors LLC grew its stake in Automatic Data Processing by 588.9% during the fourth quarter. Delos Wealth Advisors LLC now owns 124 shares of the business services provider’s stock worth $31,000 after purchasing an additional 106 shares during the period. Finally, Landmark Wealth Management LLC acquired a new stake in Automatic Data Processing in the first quarter valued at approximately $31,000. 79.06% of the stock is currently owned by institutional investors.

About Automatic Data Processing

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

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