Chilton Capital Management LLC Cuts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Chilton Capital Management LLC decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,542 shares of the business services provider’s stock after selling 593 shares during the quarter. Chilton Capital Management LLC’s holdings in Automatic Data Processing were worth $1,082,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. von Borstel & Associates Inc. acquired a new position in shares of Automatic Data Processing during the 1st quarter worth about $30,000. Main Street Group LTD boosted its position in shares of Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after acquiring an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC boosted its position in shares of Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after acquiring an additional 67 shares in the last quarter. Abound Wealth Management boosted its position in shares of Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after acquiring an additional 43 shares in the last quarter. Finally, Banque de Luxembourg S.A. acquired a new position in shares of Automatic Data Processing during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 1.3%

Automatic Data Processing stock opened at $308.96 on Friday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $329.93. The stock has a 50 day moving average of $312.20 and a two-hundred day moving average of $303.53. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $125.41 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 2.87 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The company had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same period last year, the firm earned $2.88 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a dividend of $1.54 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 1.99%. Automatic Data Processing’s payout ratio is 63.05%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ADP. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. Stifel Nicolaus upped their price objective on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. TD Securities upped their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research report on Wednesday, May 21st. Mizuho upped their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 13th. Finally, UBS Group decreased their target price on 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $307.08.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the sale, the vice president directly owned 7,364 shares of the company’s stock, valued at approximately $2,158,682.96. This trade represents a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.21% of the company’s stock.

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.