Item 5. Market for Registrant’s Common Equity
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. As of June 30, 2021, there were 34,701 holders of record of the Company’s common stock. As of such date, 1,051,941 additional holders held their common stock in “street name.”
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 Approximate Dollar Value
of Shares that
may yet be
Purchased under
the Common Stock
Repurchase Plan (2)
April 1, 2021 to
April 30, 2021
703,968 $190.81 702,309 $3,414,959,644
May 1, 2021 to
May 31, 2021
846,225 $193.80 845,310 $3,251,138,425
June 1, 2021 to
June 30, 2021
893,690 $197.42 891,590 $3,075,122,616
Total 2,443,883 2,439,209
(1) Pursuant to the terms of the Company’s restricted stock program, the Company purchased 4,674 shares at the then-market value of the shares to satisfy certain tax withholding requirements for employees upon the vesting of their restricted shares.
(2) The Company received the Board of Directors' approval to repurchase shares of the Company's common stock as follows:
Date of Approval
November 2019 $5 billion
There is no expiration date for the common stock repurchase authorization.
For equity compensation plan information, please refer to Item 12 in Part III of this Annual Report or Form 10-K.
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Performance Graph
The following graph compares the cumulative return on the Company’s common stock for the most recent five years with the cumulative return on the S&P 500 Index, a Peer Group Index, (a) and the Old Peer Group Index, (b) assuming an initial investment of $100 on June 30, 2016, with all dividends reinvested. The Company reassessed its peer group and determined that the companies included in the Nasdaq Dividend Achievers Select Index more closely match our Company characteristics than the companies previously included in the Old Peer Group Index based on their commitment to increasing annual regular dividend payments, maturity and stable and positive earnings growth profile. The stock price performance shown on this graph may not be indicative of future performance.
(a) We use the Nasdaq Dividend Achievers Select Index as our Peer Group Index. The Nasdaq Dividend Achievers Select Index is a select group of companies, that includes the Company, with at least ten consecutive years of increasing annual regular dividend payments.
(b) The Old Peer Group Index was the S&P 500 Information Technology Index.
Item 6. Selected Financial Data
Not applicable.
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