Chicago Partners Investment Group LLC Boosts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Chicago Partners Investment Group LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,587 shares of the business services provider’s stock after buying an additional 116 shares during the period. Chicago Partners Investment Group LLC’s holdings in Automatic Data Processing were worth $1,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in ADP. Itau Unibanco Holding S.A. purchased a new position in Automatic Data Processing in the 3rd quarter valued at $26,000. Dunhill Financial LLC raised its position in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after buying an additional 149 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Automatic Data Processing during the third quarter worth about $35,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

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

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 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%. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS 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 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 2.03%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 value of $290,447.16. Following the sale, 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. Over the last quarter, insiders have sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group raised their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Barclays upped their target price on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Jefferies Financial Group boosted their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday. Finally, TD Cowen raised their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing presently has a consensus 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.