RKL Wealth Management LLC Has $2.34 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

RKL Wealth Management LLC lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,999 shares of the business services provider’s stock after selling 147 shares during the quarter. RKL Wealth Management LLC’s holdings in Automatic Data Processing were worth $2,342,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Accredited Investors Inc. lifted its holdings in Automatic Data Processing by 4,431.5% during the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after purchasing an additional 2,264,202 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Automatic Data Processing during the 4th quarter valued at $342,942,000. Proficio Capital Partners LLC lifted its holdings in Automatic Data Processing by 41,710.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after purchasing an additional 1,087,814 shares during the last quarter. Holocene Advisors LP acquired a new stake in Automatic Data Processing during the 3rd quarter valued at $160,920,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Automatic Data Processing by 332.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock valued at $172,497,000 after purchasing an additional 479,145 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 Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the transaction, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. This represents a 43.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % 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 valued at $1,617,241 over the last ninety days. 0.21% of the stock is owned by company insiders.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $306.45 on Friday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average price is $302.08 and its two-hundred day moving average price is $293.55. The stock has a market cap of $124.87 billion, a PE ratio of 31.96, a P/E/G ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (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%. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ADP. UBS Group lifted their target price on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Barclays lifted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, Jefferies Financial Group lifted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $296.18.

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.