Automatic Data Processing, Inc. (NASDAQ:ADP) Position Trimmed by Royal Capital Wealth Management LLC

Royal Capital Wealth Management LLC lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,537 shares of the business services provider’s stock after selling 155 shares during the quarter. Automatic Data Processing comprises 1.1% of Royal Capital Wealth Management LLC’s portfolio, making the stock its 22nd largest holding. Royal Capital Wealth Management LLC’s holdings in Automatic Data Processing were worth $1,621,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $455,993,000. Winslow Capital Management LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $396,714,000. Capital Research Global Investors boosted its position in shares of Automatic Data Processing by 26.9% in the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock valued at $1,796,415,000 after acquiring an additional 1,299,390 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $342,942,000. Finally, Proficio Capital Partners LLC boosted its position in shares of Automatic Data Processing by 41,710.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after acquiring an additional 1,087,814 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the transaction, the vice president now directly owns 7,244 shares in the company, valued at $2,218,112.80. The trade was a 6.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,451 shares of company stock worth $743,024. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $322.80 on Wednesday. The stock’s fifty day moving average is $299.51 and its 200-day moving average is $300.53. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $131.03 billion, a PE ratio of 33.66, a PEG ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $323.17.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.88 earnings per share. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced 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. This represents a $6.16 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is presently 63.05%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. TD Securities upped their target price on Automatic Data Processing from $296.00 to $298.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. UBS Group upped their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Stifel Nicolaus upped their target price on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $303.55.

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.