Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Reduced by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 56.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,513 shares of the business services provider’s stock after selling 1,937 shares during the period. Chesapeake Capital Corp IL’s holdings in Automatic Data Processing were worth $443,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in ADP. Itau Unibanco Holding S.A. purchased a new stake in shares of Automatic Data Processing during the third quarter valued at $26,000. Dunhill Financial LLC lifted its stake in Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after buying an additional 149 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter worth about $37,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Automatic Data Processing in the fourth quarter worth approximately $37,000. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity

In related news, CEO Maria Black sold 721 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of Automatic Data Processing stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,951 shares of company stock valued at $1,762,074. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of several research analyst reports. Barclays lifted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. UBS Group lifted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Jefferies Financial Group increased their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $296.18.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $295.93 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $120.58 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The company has a 50 day moving average price of $302.66 and a two-hundred day moving average price of $295.04.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date 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 (DPR) is presently 64.23%.

Automatic Data Processing Company 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.