Rockline Wealth Management LLC Grows Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Rockline Wealth Management LLC lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.5% in the 2nd quarter, Holdings Channel reports. The firm owned 12,389 shares of the business services provider’s stock after acquiring an additional 1,275 shares during the period. Rockline Wealth Management LLC’s holdings in Automatic Data Processing were worth $2,957,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Keener Financial Planning LLC raised its position in Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Automatic Data Processing during the 1st quarter valued at about $33,000. Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing in the 1st quarter worth approximately $36,000. Pineridge Advisors LLC bought a new stake in Automatic Data Processing in the 4th quarter worth approximately $39,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Automatic Data Processing in the second quarter worth approximately $40,000. 80.03% of the stock is currently owned by institutional investors.

Insider Activity

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP David Kwon sold 846 shares of the company’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 sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ADP. Barclays lifted their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Bank of America boosted their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus boosted their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group increased their target price on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $265.36.

Automatic Data Processing Trading Up 0.9 %

ADP traded up $2.55 during midday trading on Monday, reaching $275.91. 1,548,000 shares of the company’s stock traded hands, compared to its average volume of 1,644,039. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $276.77. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a fifty day moving average of $253.29 and a two-hundred day moving average of $248.96. The stock has a market capitalization of $112.52 billion, a price-to-earnings ratio of 30.79, a P/E/G ratio of 3.00 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $1.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 2.03%. Automatic Data Processing’s dividend payout ratio is 62.50%.

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.