Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.9% during the 4th quarter, Holdings Channel reports. The fund owned 30,193 shares of the business services provider’s stock after selling 1,232 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Automatic Data Processing were worth $8,838,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ADP. State Street Corp grew its stake in shares of Automatic Data Processing by 2.4% during the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock worth $5,098,541,000 after purchasing an additional 424,328 shares during the period. Geode Capital Management LLC boosted its holdings in Automatic Data Processing by 2.8% during the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock worth $2,906,257,000 after buying an additional 286,080 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Automatic Data Processing by 1.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock worth $896,197,000 after buying an additional 41,709 shares during the period. Accredited Investors Inc. grew its position in Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after buying an additional 2,264,202 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Automatic Data Processing by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,252,807 shares of the business services provider’s stock valued at $623,419,000 after purchasing an additional 17,717 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ADP shares. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Jefferies Financial Group raised their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. TD Cowen increased their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, UBS Group boosted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $293.55.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Foskett sold 1,004 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $289.29, for a total transaction of $290,447.16. Following the transaction, the vice president now owns 5,958 shares of the company’s stock, valued at approximately $1,723,589.82. This trade represents a 14.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock valued at $1,617,241 in the last ninety days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $305.78 on Wednesday. The company has a market capitalization of $124.59 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 3.60 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $311.67. The business has a 50-day moving average of $297.21 and a 200-day moving average of $287.34.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Automatic Data Processing 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.