RKL Wealth Management LLC lowered its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 21.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,024 shares of the business services provider’s stock after selling 9,501 shares during the quarter. 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.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its stake in Automatic Data Processing by 1,971.2% in the 1st quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after buying an additional 28,201,085 shares during the last quarter. Cedar Capital LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at $254,000. Gardiner Nancy B grew its stake in Automatic Data Processing by 8.8% in the 2nd quarter. Gardiner Nancy B now owns 21,027 shares of the business services provider’s stock valued at $2,153,000 after buying an additional 1,705 shares during the last quarter. Gotham Asset Management LLC acquired a new position in Automatic Data Processing in the 1st quarter valued at $1,447,000. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in Automatic Data Processing by 1.0% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 38,651 shares of the business services provider’s stock valued at $3,957,000 after buying an additional 380 shares during the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

Shares of Automatic Data Processing (NASDAQ:ADP) opened at $118.34 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51. The stock has a market cap of $52,490.00, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. Automatic Data Processing has a 12-month low of $94.11 and a 12-month high of $121.77.

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

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be given a dividend of $0.63 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Thursday, December 7th. Automatic Data Processing’s payout ratio is 63.96%.

A number of research analysts recently issued reports on the stock. BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Royal Bank of Canada reiterated a “hold” rating and issued a $95.00 target price on shares of Automatic Data Processing in a research note on Friday, September 15th. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a research note on Wednesday, November 8th. Bank of America upgraded shares of Automatic Data Processing from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $108.00 target price on shares of Automatic Data Processing in a research note on Wednesday, October 4th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $114.17.

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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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