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

Chesapeake Capital Corp IL trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 56.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ADP. Itau Unibanco Holding S.A. purchased a new position in shares of Automatic Data Processing during the third quarter valued at approximately $26,000. Dunhill Financial LLC grew its position in Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock worth $29,000 after purchasing an additional 149 shares during the period. Sugar Maple Asset Management LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at $37,000. Wingate Wealth Advisors Inc. bought a new position in shares of Automatic Data Processing during the 4th quarter valued at $37,000. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter worth $41,000. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Price Performance

Shares of ADP stock traded down $2.19 on Friday, hitting $295.32. 3,951,110 shares of the stock traded hands, compared to its average volume of 1,459,985. The firm has a market cap of $120.33 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $303.08 and a two-hundred day simple moving average of $295.36. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84.

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Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings results 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%. As a group, equities research 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.09%. Automatic Data Processing's payout ratio is 64.23%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. StockNews.com downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. UBS Group upped their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. 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 investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Automatic Data Processing has a consensus rating of "Hold" and a consensus target price of $296.18.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 473 shares of the stock in a transaction that occurred 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 directly owns 7,244 shares of the company's stock, valued at approximately $2,218,112.80. This represents a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian L. Michaud sold 362 shares of the firm's stock in a transaction that occurred on 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 owns 13,706 shares of the company's stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,951 shares of company stock valued at $1,762,074 in the last three months. 0.21% of the stock is currently owned by corporate insiders.

About Automatic Data Processing

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.