filings.toolsItem 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
4K characters. Original on sec.gov · Markdown
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market for Registrant's Common Equity
The principal market for the Company’s common stock is the NASDAQ Global Select Market under the symbol ADP. The following table sets forth the reported high and low sales prices of the Company’s common stock reported on the NASDAQ Global Select Market and the cash dividends per share of common stock declared during each quarter for the two most recent fiscal years. As of June 30, 2018, there were 39,613 holders of record of the Company’s common stock. As of such date, 562,262 additional holders held their common stock in “street name.”
| Price Per Share | Dividends | ||||
| High | Low | Per Share | |||
| Fiscal 2018 quarter ended | |||||
| June 30 | $141.52 | $111.78 | $0.690 | ||
| March 31 | $125.24 | $107.61 | $0.630 | ||
| December 31 | $119.39 | $108.53 | $0.630 | ||
| September 30 | $121.77 | $100.51 | $0.570 | ||
| Fiscal 2017 quarter ended | |||||
| June 30 | $105.68 | $95.50 | $0.570 | ||
| March 31 | $104.61 | $93.07 | $0.570 | ||
| December 31 | $102.73 | $84.03 | $0.570 | ||
| September 30 | $93.82 | $84.75 | $0.530 |
Issuer Purchases of Equity Securities
| Period | Total Number of Shares Purchased (1) | Average Price Paid per Share | Total Number of Shares Purchased as Part of the Publicly Announced Common Stock Repurchase Plan (2) | Maximum Number of Shares that may yet be Purchased under the Common Stock Repurchase Plan (2) |
| April 1, 2018 to April 30, 2018 | 1,263,686 | $116.50 | 1,262,037 | 18,346,131 |
| May 1, 2018 to May 31, 2018 | 1,048,326 | $126.92 | 1,048,045 | 17,298,086 |
| June 1, 2018 to June 30, 2018 | 828,868 | $135.98 | 816,211 | 16,481,875 |
| Total | 3,140,880 | 3,126,293 |
| (1) | Pursuant to the terms of the Company’s restricted stock program, the Company purchased 14,587 shares at the then market value of the shares in connection with the exercise by employees of their option under such program to satisfy certain tax withholding requirements through the delivery of shares to the Company instead of cash. | |
| (2) | The Company received the Board of Directors' approval to repurchase shares of the Company's common stock as follows: |
| Date of Approval | Shares | |
| August 2015 | 25 million |
There is no expiration date for the common stock repurchase plan.
Performance Graph
The following graph compares the cumulative return on the Company’s common stock(a) for the most recent five years with the cumulative return on the S&P 500 Index and the Peer Group Index,(b) assuming an initial investment of $100 on June 30, 2013, with all dividends reinvested. The stock price performance shown on this graph may not be indicative of future performance.
| (a) | On September 30, 2014, the Company completed the spinoff of its former Dealer Services business into an independent publicly traded company called CDK Global, Inc. The cumulative returns of the Company’s common stock have been adjusted to reflect the spinoff. |
| (b) | We use the S&P 500 Information Technology Index as our Peer Group Index. The S&P 500 Information Technology Index is a broad index that includes the Company and several competitors. |
Previous: Item 4. Mine Safety Disclosures · Next: Item 6. Selected Financial Data