CHICAGO TRUST Co NA Has $3.38 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

CHICAGO TRUST Co NA lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,545 shares of the business services provider’s stock after selling 121 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Automatic Data Processing were worth $3,380,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Federated Hermes Inc. increased its position in shares of Automatic Data Processing by 0.4% during the second quarter. Federated Hermes Inc. now owns 92,324 shares of the business services provider’s stock worth $22,037,000 after acquiring an additional 365 shares in the last quarter. Parallel Advisors LLC grew its position in Automatic Data Processing by 2.7% in the 2nd quarter. Parallel Advisors LLC now owns 8,071 shares of the business services provider’s stock worth $1,927,000 after purchasing an additional 216 shares in the last quarter. Thoroughbred Financial Services LLC grew its position in Automatic Data Processing by 34.2% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 8,885 shares of the business services provider’s stock worth $2,120,000 after purchasing an additional 2,265 shares in the last quarter. Wealthspire Advisors LLC grew its position in Automatic Data Processing by 46.0% in the 2nd quarter. Wealthspire Advisors LLC now owns 9,720 shares of the business services provider’s stock worth $2,320,000 after purchasing an additional 3,063 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in Automatic Data Processing by 0.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,426 shares of the business services provider’s stock worth $3,682,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.7 %

Shares of NASDAQ:ADP traded up $1.92 on Monday, hitting $288.77. The company had a trading volume of 554,509 shares, compared to its average volume of 1,319,008. The firm’s 50-day simple moving average is $298.46 and its two-hundred day simple moving average is $278.61. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $117.66 billion, a price-to-earnings ratio of 30.82, a P/E/G ratio of 3.50 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping 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 analysts’ expectations of $4.77 billion. During the same period last year, the company posted $2.08 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were given a dividend of $1.54 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research reports. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Saturday. Mizuho upped their price target 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 increased their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. TD Cowen increased 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, Royal Bank of Canada increased their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $289.91.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. The trade was a 54.45 % 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 David Foskett sold 1,004 shares of Automatic Data Processing stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $289.29, for a total transaction of $290,447.16. Following the completion of the transaction, the vice president now directly owns 5,958 shares of the company’s stock, valued at $1,723,589.82. This trade represents a 14.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,062 shares of company stock valued at $12,299,550 in the last three months. Company insiders own 0.21% of the company’s stock.

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.