Chevy Chase Trust Holdings LLC Has $68.14 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Chevy Chase Trust Holdings LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 232,765 shares of the business services provider's stock after selling 5,335 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.06% of Automatic Data Processing worth $68,137,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ADP. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at approximately $26,000. Dunhill Financial LLC grew its holdings 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 purchasing an additional 149 shares during the period. Capital Performance Advisors LLP bought a new stake in Automatic Data Processing in the third quarter valued at approximately $35,000. Sugar Maple Asset Management LLC acquired a new stake in Automatic Data Processing in the fourth quarter worth $37,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Automatic Data Processing during the fourth quarter worth $37,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Stock Up 0.6 %

Automatic Data Processing stock traded up $1.74 during midday trading on Tuesday, reaching $309.89. The stock had a trading volume of 1,313,163 shares, compared to its average volume of 1,622,654. The stock has a market capitalization of $126.27 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The firm's fifty day simple moving average is $297.77 and its 200-day simple moving average is $289.10. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $311.67.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm 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 of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.99%. Automatic Data Processing's dividend payout ratio is 64.23%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ADP shares. UBS Group upped their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. Royal Bank of Canada reissued a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Barclays raised their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Mizuho boosted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Finally, StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of "Hold" and a consensus price target of $293.55.

Insider Activity

In related news, VP Brian L. Michaud sold 362 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Maria Black sold 721 shares of the 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 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 disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock worth $1,617,241 in the last quarter. Corporate insiders own 0.21% of the company's stock.

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.