RKL Wealth Management LLC Sells 104 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

RKL Wealth Management LLC lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.3% during the third quarter, HoldingsChannel reports. The fund owned 8,146 shares of the business services provider’s stock after selling 104 shares during the quarter. RKL Wealth Management LLC’s holdings in Automatic Data Processing were worth $2,254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. BlueSpruce Investments LP bought a new position in shares of Automatic Data Processing during the 1st quarter worth about $365,757,000. International Assets Investment Management LLC grew its position in Automatic Data Processing by 28,478.6% during the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock worth $3,305,780,000 after buying an additional 1,190,407 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Automatic Data Processing by 238.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock valued at $195,797,000 after acquiring an additional 552,096 shares during the period. Mackenzie Financial Corp raised its holdings in Automatic Data Processing by 242.4% in the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock valued at $153,749,000 after acquiring an additional 456,027 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Automatic Data Processing by 12.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock worth $964,989,000 after acquiring an additional 435,093 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,792 shares of company stock worth $27,691,708 in the last 90 days. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $304.73 on Friday. Automatic Data Processing, Inc. has a 1-year low of $225.38 and a 1-year high of $306.92. The company has a 50 day moving average of $284.12 and a 200-day moving average of $261.82. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a market cap of $124.17 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 3.55 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $2.08 EPS. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. Automatic Data Processing’s payout ratio is currently 59.77%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. TD Cowen boosted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. UBS Group raised their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Bank of America lifted their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Barclays increased their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $289.91.

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.