17,232 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Acquired by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,232 shares of the business services provider’s stock, valued at approximately $4,015,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. Larson Financial Group LLC raised its stake in Automatic Data Processing by 43.4% during the fourth quarter. Larson Financial Group LLC now owns 525 shares of the business services provider’s stock worth $122,000 after acquiring an additional 159 shares in the last quarter. RWA Wealth Partners LLC lifted its stake in Automatic Data Processing by 1,353.1% in the 4th quarter. RWA Wealth Partners LLC now owns 42,678 shares of the business services provider’s stock valued at $9,943,000 after purchasing an additional 39,741 shares during the last quarter. Sage Mountain Advisors LLC boosted its position in Automatic Data Processing by 9.1% in the fourth quarter. Sage Mountain Advisors LLC now owns 2,034 shares of the business services provider’s stock valued at $474,000 after buying an additional 169 shares in the last quarter. Duality Advisers LP bought a new stake in shares of Automatic Data Processing during the fourth quarter worth $1,513,000. Finally, MCF Advisors LLC increased its holdings in shares of Automatic Data Processing by 6.6% during the fourth quarter. MCF Advisors LLC now owns 2,781 shares of the business services provider’s stock worth $652,000 after buying an additional 173 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ADP. Mizuho raised their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $254.58.

Automatic Data Processing Stock Up 0.2 %

Automatic Data Processing stock opened at $246.84 on Wednesday. The firm has a market cap of $101.40 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.31 and a beta of 0.78. Automatic Data Processing, Inc. has a 52-week low of $201.46 and a 52-week high of $256.84. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a 50 day moving average price of $247.09 and a two-hundred day moving average price of $239.21.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. The company had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. Automatic Data Processing’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 company posted $1.96 earnings per share. Equities analysts predict that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is 65.19%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the transaction, the vice president now directly owns 19,906 shares in the company, valued at approximately $4,876,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP David Kwon sold 863 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the transaction, the vice president now owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Don Mcguire sold 11,333 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now directly owns 19,906 shares of the company’s stock, valued at $4,876,970. The disclosure for this sale can be found here. Insiders have sold a total of 15,162 shares of company stock worth $3,741,859 in the last 90 days. Corporate insiders own 0.26% 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.