Chicago Capital LLC Trims Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Chicago Capital LLC decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% in the fourth quarter, HoldingsChannel reports. The firm owned 7,323 shares of the business services provider’s stock after selling 160 shares during the quarter. Chicago Capital LLC’s holdings in Automatic Data Processing were worth $2,144,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Czech National Bank boosted its stake in shares of Automatic Data Processing by 6.5% in the third quarter. Czech National Bank now owns 83,072 shares of the business services provider’s stock worth $22,989,000 after buying an additional 5,077 shares during the last quarter. GAMMA Investing LLC boosted its position in Automatic Data Processing by 23.6% in the 3rd quarter. GAMMA Investing LLC now owns 7,418 shares of the business services provider’s stock worth $2,053,000 after purchasing an additional 1,415 shares in the last quarter. Diversified Trust Co grew its stake in shares of Automatic Data Processing by 15.5% during the 3rd quarter. Diversified Trust Co now owns 12,551 shares of the business services provider’s stock worth $3,473,000 after purchasing an additional 1,683 shares during the period. Miracle Mile Advisors LLC lifted its stake in shares of Automatic Data Processing by 16.3% in the 3rd quarter. Miracle Mile Advisors LLC now owns 2,251 shares of the business services provider’s stock valued at $623,000 after purchasing an additional 316 shares during the period. Finally, McLean Asset Management Corp acquired a new stake in Automatic Data Processing during the third quarter valued at $219,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.1 %

Automatic Data Processing stock opened at $303.01 on Monday. The company has a market capitalization of $123.46 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $311.67. The firm has a 50 day moving average price of $297.16 and a 200 day moving average price of $284.59.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 81.85% and a net margin of 19.76%. Research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current 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 of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.03%. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Insider Activity

In other news, VP Brian L. Michaud sold 362 shares of the stock in a transaction dated Thursday, January 2nd. The stock was 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 in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David Foskett sold 1,004 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $289.29, for a total transaction of $290,447.16. Following the sale, the vice president now directly owns 5,958 shares in the company, valued at approximately $1,723,589.82. The trade was a 14.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,129 shares of company stock worth $12,604,872. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday. UBS Group raised their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Mizuho raised their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. TD Cowen raised their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $291.27.

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.