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

Chesapeake Wealth Management increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.7% in the second quarter, HoldingsChannel reports. The firm owned 1,062 shares of the business services provider’s stock after acquiring an additional 85 shares during the quarter. Chesapeake Wealth Management’s holdings in Automatic Data Processing were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Automatic Data Processing in the 2nd quarter valued at $27,000. Keener Financial Planning LLC lifted its position in Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares during the period. Crewe Advisors LLC purchased a new stake in Automatic Data Processing in the first quarter valued at $33,000. Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing during the 1st quarter worth about $36,000. Finally, Pineridge Advisors LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.5 %

ADP stock opened at $276.41 on Friday. The stock has a market capitalization of $113.13 billion, a P/E ratio of 30.85, a P/E/G ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $281.54. The firm has a 50-day simple moving average of $264.76 and a 200-day simple moving average of $251.51. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.89 earnings per share. Equities analysts forecast that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 2.03%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Insiders Place Their Bets

In other news, VP David Kwon sold 846 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Kwon sold 846 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock valued at $15,999,208 in the last 90 days. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ADP shares. Stifel Nicolaus upped their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Barclays upped their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $265.36.

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.