RKL Wealth Management LLC Sells 9,501 Shares of Automatic Data Processing (ADP)

RKL Wealth Management LLC reduced its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 21.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,024 shares of the business services provider’s stock after selling 9,501 shares during the period. RKL Wealth Management LLC’s holdings in Automatic Data Processing were worth $3,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Oak Ridge Investments LLC increased its holdings in shares of Automatic Data Processing by 110.3% in the third quarter. Oak Ridge Investments LLC now owns 4,804 shares of the business services provider’s stock valued at $525,000 after purchasing an additional 2,520 shares during the period. Marble Harbor Investment Counsel LLC boosted its stake in shares of Automatic Data Processing by 1.5% in the third quarter. Marble Harbor Investment Counsel LLC now owns 158,631 shares of the business services provider’s stock worth $17,342,000 after buying an additional 2,350 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Automatic Data Processing in the third quarter worth about $1,416,000. Putnam FL Investment Management Co. purchased a new stake in shares of Automatic Data Processing in the third quarter worth about $2,293,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Automatic Data Processing by 2.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 32,272 shares of the business services provider’s stock worth $3,528,000 after buying an additional 678 shares during the last quarter. 78.67% of the stock is currently owned by institutional investors.

Automatic Data Processing (ADP) traded down $0.47 during midday trading on Thursday, hitting $117.18. The stock had a trading volume of 1,160,000 shares, compared to its average volume of 2,060,000. The stock has a market capitalization of $51,970.00, a P/E ratio of 29.74, a PEG ratio of 2.93 and a beta of 0.85. Automatic Data Processing has a 1-year low of $94.11 and a 1-year high of $121.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 earnings per share. research analysts forecast that Automatic Data Processing will post 3.91 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 8th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, December 7th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.96%.

A number of brokerages have recently commented on ADP. Zacks Investment Research downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday. Goldman Sachs Group upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating and upped their target price for the stock from $116.02 to $135.00 in a research note on Monday, December 11th. Bank of America upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. BidaskClub upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Automatic Data Processing in a research report on Wednesday, November 15th. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $114.64.

In other Automatic Data Processing news, VP Donald Weinstein sold 2,275 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total transaction of $263,968.25. Following the completion of the sale, the vice president now owns 27,399 shares of the company’s stock, valued at $3,179,105.97. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael A. Bonarti sold 3,900 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total value of $452,517.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,505 shares of company stock valued at $13,612,788. Insiders own 0.25% of the company’s stock.

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About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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