RWA Wealth Partners LLC Has $10.45 Million Stake in Automatic Data Processing, Inc. $ADP

RWA Wealth Partners LLC trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 24.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,187 shares of the business services provider’s stock after selling 11,122 shares during the period. RWA Wealth Partners LLC’s holdings in Automatic Data Processing were worth $10,445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after purchasing an additional 4,808 shares during the period. Bank Pictet & Cie Europe AG bought a new position in Automatic Data Processing during the fourth quarter worth $957,000. MetLife Investment Management LLC boosted its position in Automatic Data Processing by 1.0% during the fourth quarter. MetLife Investment Management LLC now owns 124,731 shares of the business services provider’s stock worth $36,513,000 after purchasing an additional 1,260 shares during the period. MML Investors Services LLC boosted its position in Automatic Data Processing by 6.9% during the fourth quarter. MML Investors Services LLC now owns 49,513 shares of the business services provider’s stock worth $14,494,000 after purchasing an additional 3,216 shares during the period. Finally, Trajan Wealth LLC boosted its position in Automatic Data Processing by 9.7% during the fourth quarter. Trajan Wealth LLC now owns 12,289 shares of the business services provider’s stock worth $3,597,000 after purchasing an additional 1,082 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Mizuho lifted their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. TD Securities boosted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research report on Wednesday, May 21st. Morgan Stanley boosted their target price on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. UBS Group reduced their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research report on Friday, June 13th. Finally, Royal Bank Of Canada reaffirmed 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $314.33.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $301.79 on Monday. The business has a 50 day moving average of $305.74 and a 200-day moving average of $305.62. Automatic Data Processing, Inc. has a 1 year low of $262.21 and a 1 year high of $329.93. The company has a market capitalization of $122.24 billion, a P/E ratio of 30.24, a P/E/G ratio of 2.77 and a beta of 0.81. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. The firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.09 EPS. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, September 12th. Automatic Data Processing’s dividend payout ratio is presently 61.72%.

About Automatic Data Processing

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.