Chevy Chase Trust Holdings LLC Sells 5,335 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Chevy Chase Trust Holdings LLC reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 232,765 shares of the business services provider’s stock after selling 5,335 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.06% of Automatic Data Processing worth $68,137,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Tower Wealth Partners Inc. lifted its holdings in Automatic Data Processing by 3.4% during the 3rd quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock worth $292,000 after buying an additional 35 shares during the period. Harbour Investments Inc. lifted its holdings in Automatic Data Processing by 2.1% during the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after buying an additional 36 shares during the period. Aspiriant LLC raised its position in shares of Automatic Data Processing by 1.5% in the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after acquiring an additional 36 shares in the last quarter. Precedent Wealth Partners LLC raised its position in shares of Automatic Data Processing by 0.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after acquiring an additional 36 shares in the last quarter. Finally, Riversedge Advisors LLC raised its position 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 worth $268,000 after acquiring an additional 37 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADP has been the subject of several research analyst reports. StockNews.com lowered 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 set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. TD Cowen boosted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, Barclays boosted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $293.55.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $310.22 on Friday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $311.67. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The business’s 50 day simple moving average is $297.32 and its 200 day simple moving average is $287.85. The company has a market cap of $126.40 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 3.60 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results 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%. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued 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 yield of 1.99%. Automatic Data Processing’s payout ratio is 64.23%.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the transaction, the vice president now owns 3,063 shares of the company’s stock, valued at $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction 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 completion of the transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock valued at $1,617,241 in the last 90 days. 0.21% of the stock is currently owned by company 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.