Rockline Wealth Management LLC Has $4.21 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Rockline Wealth Management LLC boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 13,781 shares of the business services provider’s stock after purchasing an additional 440 shares during the quarter. Automatic Data Processing accounts for about 1.2% of Rockline Wealth Management LLC’s holdings, making the stock its 28th biggest position. Rockline Wealth Management LLC’s holdings in Automatic Data Processing were worth $4,210,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Toronto Dominion Bank grew its stake in Automatic Data Processing by 10.2% during the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock valued at $69,290,000 after acquiring an additional 21,910 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Automatic Data Processing by 42.8% during the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider’s stock valued at $1,090,000 after acquiring an additional 1,117 shares in the last quarter. Napatree Capital LLC grew its stake in Automatic Data Processing by 2.7% during the 4th quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider’s stock valued at $936,000 after acquiring an additional 84 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Automatic Data Processing by 8.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider’s stock valued at $76,638,000 after acquiring an additional 20,467 shares in the last quarter. Finally, Brighton Jones LLC grew its stake in Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock valued at $2,935,000 after acquiring an additional 4,808 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ADP. TD Securities lifted their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. Royal Bank Of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. Stifel Nicolaus boosted their price target on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Morgan Stanley boosted their price target on Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Mizuho boosted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $307.08.

Automatic Data Processing Stock Down 0.2%

Shares of ADP stock opened at $306.26 on Friday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $329.93. The firm has a market cap of $124.32 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 3.18 and a beta of 0.79. The stock has a 50 day moving average of $309.61 and a 200-day moving average of $302.94. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same period in the previous year, the company earned $2.88 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.05%.

Insider Transactions at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 478 shares of the business’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the sale, the vice president now directly owns 7,364 shares in the company, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

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.