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Virginia Magliulo, Corporate Vice President at Automatic Data Processing Inc. (NASDAQ:ADP), has recently sold shares of the company, according to a recent SEC filing. On January 13, Magliulo sold 3,578 shares of ADP common stock at an average price of $285.50, totaling approximately $1.02 million. This transaction was part of a pre-established Rule 10b5-1 trading plan adopted in September 2024. The sale comes as ADP, currently valued at $119.65 billion, trades near its 52-week high of $309.63. According to InvestingPro, the company maintains a GOOD financial health score and has raised its dividend for 26 consecutive years.
In addition to the sale, Magliulo exercised stock options to acquire 1,702 shares at a price of $206.86 per share, representing a transaction value of about $352,075. Following these transactions, Magliulo's direct ownership in ADP stands at 9,140.543 shares. Want deeper insights into insider trading patterns and comprehensive valuation metrics? InvestingPro offers detailed analysis of ADP and 1,400+ other stocks through its Pro Research Reports.
In other recent news, Automatic Data Processing (ADP) has demonstrated a strong financial performance, exceeding market expectations. The company reported a 7% increase in revenue and a 12% rise in earnings per share in the first quarter. This performance has been attributed to the successful acquisition of WorkForce Software (ETR:SOWGn) and solid results in the Employer Services and Professional Employer Organization segments.
ADP has also made significant changes to its executive team, with Joseph DeSilva stepping into the role of Executive Vice President, North America and Chief of Operations, replacing John C. Ayala. This development is one of the recent changes shaping ADP's business operations.
Analysts from TD Cowen, led by Jared Levine, have increased their price target on ADP shares to $290 from $285, while maintaining a Hold rating. This adjustment reflects ADP's consistent performance and robust bookings. The company has also raised its annual dividend rate, marking its 50th consecutive year of dividend growth, placing the company among the prestigious 'Dividend Kings'.
Additionally, the private sector in the United States saw an increase of 122,000 jobs in December, as reported by the ADP National Employment Report. This independent assessment of the labor market is a collaborative effort between ADP Research and the Stanford Digital Economy Lab.
These are among the recent developments shaping ADP's trajectory.
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