Checchi Capital Advisers LLC Has $1.74 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Checchi Capital Advisers LLC grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,933 shares of the business services provider’s stock after purchasing an additional 61 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Automatic Data Processing were worth $1,737,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Sabal Trust CO boosted its stake in shares of Automatic Data Processing by 11.6% in the 4th quarter. Sabal Trust CO now owns 1,917 shares of the business services provider’s stock worth $561,000 after buying an additional 200 shares during the last quarter. National Pension Service lifted its stake in Automatic Data Processing by 22.4% in the 4th quarter. National Pension Service now owns 924,489 shares of the business services provider’s stock worth $270,626,000 after purchasing an additional 168,972 shares in the last quarter. Lake Street Advisors Group LLC boosted its stake in Automatic Data Processing by 2.0% during the fourth quarter. Lake Street Advisors Group LLC now owns 10,498 shares of the business services provider’s stock valued at $3,089,000 after buying an additional 210 shares during the period. Delta Financial Advisors LLC raised its stake in Automatic Data Processing by 0.3% in the fourth quarter. Delta Financial Advisors LLC now owns 14,572 shares of the business services provider’s stock valued at $4,266,000 after purchasing an additional 37 shares in the last quarter. Finally, Canton Hathaway LLC grew its position in Automatic Data Processing by 6.7% in the fourth quarter. Canton Hathaway LLC now owns 593 shares of the business services provider’s stock worth $174,000 after acquiring an additional 37 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ADP shares. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Mizuho lifted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, Barclays lifted their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $313.37 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 company has a market capitalization of $127.69 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $314.70. The firm has a 50 day moving average of $299.38 and a 200 day moving average of $291.25.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, sell-side 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 disclosed 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 1.97%. Automatic Data Processing’s payout ratio is currently 64.23%.

Insider Activity

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now owns 3,063 shares of the company’s stock, valued at $929,007.90. The trade was a 43.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 of the company’s stock, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock valued at $1,617,241 over the last ninety days. 0.21% of the stock is currently owned by insiders.

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.