RKL Wealth Management LLC trimmed its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 5.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,947 shares of the business services provider’s stock after selling 947 shares during the period. RKL Wealth Management LLC’s holdings in Automatic Data Processing were worth $2,802,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Horan Capital Advisors LLC. acquired a new position in Automatic Data Processing during the first quarter valued at $31,000. C J Advisory Inc acquired a new position in Automatic Data Processing in the 1st quarter worth about $32,000. Cypress Capital Management LLC WY increased its position in Automatic Data Processing by 257.1% in the 1st quarter. Cypress Capital Management LLC WY now owns 200 shares of the business services provider’s stock worth $32,000 after purchasing an additional 144 shares during the last quarter. Permanens Capital L.P. acquired a new position in Automatic Data Processing in the 1st quarter worth about $32,000. Finally, Mackey Komara & Dankovich LLC acquired a new position in Automatic Data Processing in the 1st quarter worth about $33,000. 80.23% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have weighed in on the company. Jefferies Financial Group upped their target price on Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Robert W. Baird upped their target price on Automatic Data Processing from $167.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Citigroup upped their target price on Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 target price on the stock in a research report on Friday, June 21st. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $174.10.
ADP stock traded up $1.95 during mid-day trading on Friday, hitting $167.02. The stock had a trading volume of 1,339,600 shares, compared to its average volume of 2,129,960. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.37. Automatic Data Processing has a 1-year low of $121.40 and a 1-year high of $172.00. The company has a fifty day moving average of $165.82 and a 200 day moving average of $160.00. The stock has a market capitalization of $71.63 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 2.06 and a beta of 0.91.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.01. The company had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.50 billion. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 EPS. As a group, sell-side analysts expect that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.79 per share. The ex-dividend date is Thursday, September 12th. This represents a $3.16 annualized dividend and a dividend yield of 1.89%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 57.98%.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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