Chevy Chase Trust Holdings LLC Has $70.60 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Chevy Chase Trust Holdings LLC decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 231,071 shares of the business services provider's stock after selling 1,694 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.06% of Automatic Data Processing worth $70,599,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its position in Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after buying an additional 4,808 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new position in shares of Automatic Data Processing in the 4th quarter valued at $957,000. Sigma Planning Corp boosted its holdings in shares of Automatic Data Processing by 5.5% during the 4th quarter. Sigma Planning Corp now owns 6,041 shares of the business services provider's stock valued at $1,768,000 after acquiring an additional 313 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Automatic Data Processing by 2.0% during the 4th quarter. First Horizon Advisors Inc. now owns 8,950 shares of the business services provider's stock valued at $2,620,000 after acquiring an additional 177 shares in the last quarter. Finally, Forvis Mazars Wealth Advisors LLC grew its position in Automatic Data Processing by 5.8% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 3,740 shares of the business services provider's stock worth $1,095,000 after acquiring an additional 204 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares of the company's stock, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Christopher D'ambrosio sold 478 shares of the stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president now directly owns 7,364 shares in the company, valued at $2,158,682.96. This trade represents a 6.10% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Stifel Nicolaus increased their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Morgan Stanley raised their price objective on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Tuesday, June 17th. Mizuho lifted their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. UBS Group decreased their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research report on Friday, June 13th. Finally, TD Securities raised their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $307.08.

Automatic Data Processing Trading Down 4.2%

Shares of NASDAQ:ADP traded down $13.21 during trading on Wednesday, reaching $298.19. The stock had a trading volume of 2,354,909 shares, compared to its average volume of 1,717,778. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $329.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. The firm's fifty day moving average is $310.05 and its 200 day moving average is $303.05. The stock has a market cap of $121.04 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 3.22 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the previous year, the business earned $2.88 earnings per share. Automatic Data Processing's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.07%. Automatic Data Processing's payout ratio is 63.05%.

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.