Rockline Wealth Management LLC Purchases 637 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Rockline Wealth Management LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.0% in the fourth quarter, HoldingsChannel reports. The fund owned 13,341 shares of the business services provider’s stock after purchasing an additional 637 shares during the quarter. Rockline Wealth Management LLC’s holdings in Automatic Data Processing were worth $3,905,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ADP. Calamos Wealth Management LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter valued at $220,000. Patron Partners LLC lifted its stake in Automatic Data Processing by 6.7% in the fourth quarter. Patron Partners LLC now owns 2,911 shares of the business services provider’s stock valued at $852,000 after purchasing an additional 184 shares during the last quarter. Columbus Macro LLC grew its holdings in Automatic Data Processing by 467.5% during the fourth quarter. Columbus Macro LLC now owns 21,350 shares of the business services provider’s stock valued at $6,250,000 after purchasing an additional 17,588 shares during the period. Optas LLC raised its stake in shares of Automatic Data Processing by 3.4% in the fourth quarter. Optas LLC now owns 1,114 shares of the business services provider’s stock valued at $326,000 after buying an additional 37 shares during the period. Finally, Catalina Capital Group LLC increased its holdings in Automatic Data Processing by 6.2% in the 4th quarter. Catalina Capital Group LLC now owns 1,713 shares of the business services provider’s stock worth $501,000 after acquiring an additional 100 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on ADP. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. UBS Group increased their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Mizuho boosted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, Barclays raised their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Price Performance

ADP stock opened at $307.32 on Tuesday. The firm has a market cap of $125.22 billion, a P/E ratio of 32.05, a P/E/G ratio of 3.52 and a beta of 0.79. The firm’s fifty day moving average is $297.16 and its 200 day moving average is $284.84. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $311.67. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Research analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,129 shares of company stock worth $12,604,872. 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.