Chronos Wealth Management LLC Has $240,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Chronos Wealth Management LLC lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 23.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 820 shares of the business services provider’s stock after selling 250 shares during the quarter. Chronos Wealth Management LLC’s holdings in Automatic Data Processing were worth $240,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing in the third quarter valued at about $26,000. Dunhill Financial LLC increased 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 worth $29,000 after purchasing an additional 149 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after acquiring an additional 51 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth $35,000. Finally, Sugar Maple Asset Management LLC bought a new position in Automatic Data Processing in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group increased their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Barclays lifted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. Finally, TD Cowen lifted 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Stock Down 1.0 %

NASDAQ ADP opened at $305.97 on Friday. The business’s 50-day moving average is $297.21 and its 200 day moving average is $285.99. The stock has a market capitalization of $124.67 billion, a PE ratio of 31.91, a PEG ratio of 3.52 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. Automatic Data Processing’s payout ratio is 64.23%.

Insider Activity at Automatic Data Processing

In other news, VP David Foskett sold 1,004 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $289.29, for a total value of $290,447.16. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Maria Black sold 721 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock worth $1,617,241 over the last quarter. Company insiders own 0.21% 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.