Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Chesapeake Wealth Management

Chesapeake Wealth Management lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 975 shares of the business services provider’s stock after selling 57 shares during the period. Chesapeake Wealth Management’s holdings in Automatic Data Processing were worth $227,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Dorsey & Whitney Trust CO LLC increased its holdings in Automatic Data Processing by 6.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 13,520 shares of the business services provider’s stock worth $3,150,000 after buying an additional 822 shares during the period. Richard C. Young & CO. LTD. increased its stake in shares of Automatic Data Processing by 0.3% in the fourth quarter. Richard C. Young & CO. LTD. now owns 73,796 shares of the business services provider’s stock worth $17,192,000 after acquiring an additional 222 shares during the period. Pingora Partners LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth $373,000. Evoke Wealth LLC raised its holdings in shares of Automatic Data Processing by 187.8% during the fourth quarter. Evoke Wealth LLC now owns 16,746 shares of the business services provider’s stock worth $3,925,000 after purchasing an additional 10,927 shares during the last quarter. Finally, Laidlaw Wealth Management LLC lifted its position in Automatic Data Processing by 23.9% during the fourth quarter. Laidlaw Wealth Management LLC now owns 1,214 shares of the business services provider’s stock valued at $283,000 after purchasing an additional 234 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of ADP traded up $4.01 during mid-day trading on Friday, hitting $244.92. 2,721,044 shares of the company were exchanged, compared to its average volume of 1,098,280. The stock has a market cap of $100.24 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84. The company has a 50 day moving average of $245.93 and a 200-day moving average of $241.87. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the business posted $2.52 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Analysts expect that Automatic Data Processing, Inc. will post 9.17 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analyst Ratings Changes

Several brokerages have weighed in on ADP. TD Cowen cut their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI lifted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Barclays upped their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $255.42.

Get Our Latest Stock Analysis on ADP

Insider Transactions at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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