Chesapeake Capital Corp IL Has $443,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Chesapeake Capital Corp IL cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 56.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADP. AMG National Trust Bank boosted its holdings in Automatic Data Processing by 0.3% during the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock worth $3,318,000 after purchasing an additional 33 shares during the last quarter. Aspiriant LLC boosted its stake in shares of Automatic Data Processing by 1.5% during the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after buying an additional 36 shares during the last quarter. Precedent Wealth Partners LLC boosted its stake in shares of Automatic Data Processing by 0.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after buying an additional 36 shares during the last quarter. Riversedge Advisors LLC grew its holdings in shares of Automatic Data Processing by 4.2% in the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock valued at $268,000 after acquiring an additional 37 shares in the last quarter. Finally, Gilbert & Cook Inc. increased its position in shares of Automatic Data Processing by 2.0% in the fourth quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider’s stock valued at $539,000 after acquiring an additional 37 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $295.93 on Wednesday. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84. The company has a market cap of $120.58 billion, a P/E ratio of 30.86, a P/E/G ratio of 3.62 and a beta of 0.76. The firm’s fifty day moving average price is $302.66 and its two-hundred day moving average price is $295.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

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

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

Insider Activity

In other news, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the transaction, the vice president now directly owns 7,244 shares in the company, valued at approximately $2,218,112.80. The trade was a 6.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the sale, the vice president now owns 3,063 shares in the company, valued at $929,007.90. This represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,951 shares of company stock worth $1,762,074. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ADP shares. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Barclays increased their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, UBS Group boosted their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $296.18.

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.