Shares of the company are trading at $117.01 which is slightly above $110.44, the 50 day moving average and well above the 200 day moving average of $105.32. The 50 day moving average was up $6.57 or +5.95% whereas the 200 day average was up by +11.10%. Automatic Data Processing, Inc. shares had a trading volume of 1,705K on Tuesday. Overall, volume was down 21.90% under the stocks normal daily volume.
Investors are a little more bullish on shares of Automatic Data Processing, Inc. recently as shown by the fall in short interest. The firm had a fall in short interest from September 15, 2017 to September 29, 2017 of -17.65%. Short interest decreased from 9,902,725 to 8,154,474 over that timeframe. Days to cover decreased from 3.0 to 3.0 and the percentage of shorted shares is 0.02% as of September 29.
Automatic Data Processing, Inc. (NASDAQ:ADP) has been the object of insider selling activity recently. Stuart Sackman, Corp. VP reported the sale of 519 shares. The shares were sold on September 2nd for an average price of $106.64. The Corp. VP now owns $2,189,919 of the stock according to the SEC filing. Corp. VP Thomas J. Perrotti disclosed the sale of 2,991 shares of ADP stock. The shares sold for $106.59. Perrotti now owns $1,658,038 of the stock per the Form 4 SEC filing.
Corp. VP Dermot J. O’brien let go of 4,098 shares at an average price of $106.64 on Sat the 2nd. O’brien now owns $3,403,663 of stock as reported to the SEC.
Here are a few substantial investment firms who have updated their positions. Alpha Windward LLC reduced its ownership by selling 10 shares a decrease of 0.4% from 06/30/2017 to 09/30/2017. Alpha Windward LLC now holds 2,441 shares valued at $267,000. The value of the position overall is up by 6.4%. Mycio Wealth Partners, LLC bolstered its stake by buying 1,384 shares an increase of 42.7% as of 09/30/2017. Mycio Wealth Partners, LLC currently owns 4,628 shares worth $505,000. The total value of its holdings increased 52.1%.
As of the end of the quarter Robeco Institutional Asset Management B.v. had disposed of 36,420 shares trimming its stake by 74.7%. The value of the investment in Automatic Data Processing, Inc. decreased from $4,992,000 to $1,346,000 decreasing 73.0% quarter to quarter. Reilly Financial Advisors, LLC divested its position by shedding 535 shares a decrease of 3.5%. Reilly Financial Advisors, LLC now controls 14,660 shares with a value of $1,603,000. The total value of its holdings increased 3.0%.
On July 18 the company was set at “Equal-Weight” in a report from Barclays down from the previous “Equal-weight” rating. On July 31 the stock rating was upgraded to “Outperform” from “Underperform” and a price target of $105.00 was set in a report from Evercore ISI Group.
Equity analyst Evercore ISI Group upgraded the stock and raised the price target on July 31 boosting the price target from $85.00 to $105.00 and moving the rating from “Underperform” to “Outperform”. On August 3 the company was downgraded from “Equal-weight” to “Underweight” in an announcement from Morgan Stanley.
August 17 investment analysts at Citigroup kept the stock rating at “Neutral” but raised the price target to $110.00 from $90.00.
The company is now up by 0.93%% since yesterday’s close of 115.93. Automatic Data Processing, Inc. also recently declared a dividend for shareholders that was paid on Sunday the 1st of October 2017. The dividend was $0.570 per share for the quarter which is $2.28 annualized. This dividend represents a yield of $1.97. The ex-dividend date was Thursday the 7th of September 2017.
Automatic Data Processing, Inc.’s P/E ratio is 30.39 and market capitalization is 52.00B. In the last earnings report the EPS was $3.85 and is estimated to be $3.81 for the current year with 444,374,000 shares now outstanding. Analysts expect next quarter’s EPS will be $0.89 with next year’s EPS anticipated to be $4.25.
Automatic Data Processing, Inc. (ADP), launched on June 12, 1961, is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services. The Company markets its solutions primarily through its direct sales force. Employer Services also markets its solutions through indirect sales channels, such as marketing relationships with banks and certified public accountants, among others..