Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,381 shares of the business services provider’s stock after purchasing an additional 324 shares during the period. Chemistry Wealth Management LLC’s holdings in Automatic Data Processing were worth $697,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Automatic Data Processing in the 3rd quarter valued at approximately $26,000. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Automatic Data Processing in the 2nd quarter valued at approximately $27,000. Dunhill Financial LLC increased its stake 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 valued at $29,000 after buying an additional 149 shares during the period. Hexagon Capital Partners LLC increased its stake in Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in Automatic Data Processing in the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction that occurred 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 in the company, valued at $20,077,721.04. The trade was a 1.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,129 shares of company stock worth $12,604,872. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Trading Down 0.0 %

Shares of ADP stock opened at $296.18 on Friday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63. The company has a market capitalization of $120.68 billion, a P/E ratio of 31.61, a P/E/G ratio of 3.34 and a beta of 0.79. The firm has a 50-day moving average price of $298.07 and a 200 day moving average price of $279.57. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period last year, the firm posted $2.08 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Research analysts forecast 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. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is presently 65.74%.

Analyst Upgrades and Downgrades

ADP has been the topic of several research reports. Barclays upped their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Citigroup upped their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $289.91.

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.