Chesapeake Capital Corp IL Makes New $1.20 Million Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Chesapeake Capital Corp IL acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,033 shares of the business services provider’s stock, valued at approximately $1,201,000. Automatic Data Processing comprises about 1.6% of Chesapeake Capital Corp IL’s portfolio, making the stock its 6th largest position.

Other institutional investors have also made changes to their positions in the company. Schmidt P J Investment Management Inc. raised its holdings in Automatic Data Processing by 0.4% in the second quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after purchasing an additional 40 shares during the period. Confluence Wealth Services Inc. raised its stake in Automatic Data Processing by 5.0% during the 2nd quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock worth $206,000 after buying an additional 41 shares during the period. Bedel Financial Consulting Inc. raised its stake in Automatic Data Processing by 0.8% during the 4th quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock worth $1,224,000 after buying an additional 42 shares during the period. Prestige Wealth Management Group LLC lifted its holdings in Automatic Data Processing by 0.8% during the first quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock worth $1,402,000 after acquiring an additional 43 shares in the last quarter. Finally, Patron Partners LLC grew its stake in Automatic Data Processing by 1.6% in the first quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock valued at $683,000 after acquiring an additional 44 shares during the period. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Trading Up 2.2 %

Shares of NASDAQ:ADP opened at $275.59 on Tuesday. The business’s 50 day simple moving average is $257.18 and its 200 day simple moving average is $249.83. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $278.24. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $112.39 billion, a P/E ratio of 30.76, a P/E/G ratio of 2.93 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly 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 the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. Automatic Data Processing’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 earnings per share. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays increased their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. upped their target price on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Bank of America raised their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group boosted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $265.36.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the sale, the vice president now directly owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Don Mcguire sold 3,179 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares of the company’s stock, valued at $11,440,548.48. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock worth $15,999,208 over the last 90 days. Insiders own 0.26% of the company’s stock.

Automatic Data Processing 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.