Chemistry Wealth Management LLC Has $697,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Chemistry Wealth Management LLC boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,381 shares of the business services provider’s stock after purchasing an additional 324 shares during the quarter. Chemistry Wealth Management LLC’s holdings in Automatic Data Processing were worth $697,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ADP. Renaissance Technologies LLC acquired a new position in Automatic Data Processing during the second quarter valued at approximately $27,044,000. Edgestream Partners L.P. lifted its stake in Automatic Data Processing by 237.6% in the second quarter. Edgestream Partners L.P. now owns 6,728 shares of the business services provider’s stock valued at $1,606,000 after buying an additional 4,735 shares in the last quarter. Waterloo Capital L.P. lifted its stake in Automatic Data Processing by 10.2% in the second quarter. Waterloo Capital L.P. now owns 1,057 shares of the business services provider’s stock valued at $252,000 after buying an additional 98 shares in the last quarter. Seven Eight Capital LP bought a new position in Automatic Data Processing in the second quarter valued at approximately $314,000. Finally, XTX Topco Ltd bought a new position in Automatic Data Processing in the second quarter valued at approximately $1,032,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now owns 32,604 shares in the company, valued at $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,129 shares of company stock worth $12,604,872 over the last ninety days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP opened at $296.18 on Friday. The company has a market cap of $120.68 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63. The company’s fifty day simple moving average is $298.07 and its 200 day simple moving average is $279.57. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the previous year, the company earned $2.08 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup lifted their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. UBS Group lifted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Mizuho boosted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada boosted their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Profile

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.