Chevy Chase Trust Holdings LLC Cuts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Chevy Chase Trust Holdings LLC decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 243,546 shares of the business services provider’s stock after selling 5,710 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.06% of Automatic Data Processing worth $58,132,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Keener Financial Planning LLC boosted its stake 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 worth $28,000 after buying an additional 76 shares during the period. Crewe Advisors LLC purchased a new position in shares of Automatic Data Processing during the 1st quarter worth about $33,000. Pathway Financial Advisers LLC bought a new position in Automatic Data Processing during the 1st quarter valued at about $36,000. Pineridge Advisors LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth about $39,000. Finally, Evolution Advisers Inc. bought a new stake in Automatic Data Processing in the fourth quarter worth about $41,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded down $0.11 on Tuesday, hitting $264.54. 913,340 shares of the company were exchanged, compared to its average volume of 1,667,052. The firm has a market capitalization of $108.27 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $269.49. The stock’s 50 day moving average price is $248.65 and its 200 day moving average price is $247.63.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The company 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 firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.89 EPS. Sell-side analysts predict that Automatic Data Processing, Inc. will post 10.01 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Analyst Ratings Changes

ADP has been the topic of a number of analyst reports. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Bank of America increased their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Barclays lifted their price target on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. TD Cowen reduced their price objective on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $265.36.

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.