Marks Group Wealth Management Inc Takes $4.02 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

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

Other hedge funds also recently bought and sold shares of the company. Heritage Investment Group Inc. raised its holdings in shares of Automatic Data Processing by 1.9% during the fourth quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider's stock worth $513,000 after acquiring an additional 41 shares during the period. Argus Investors Counsel Inc. raised its holdings in shares of Automatic Data Processing by 0.5% during the fourth quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider's stock worth $2,065,000 after acquiring an additional 43 shares during the period. Trust Co. of Toledo NA OH raised its holdings in shares of Automatic Data Processing by 0.5% during the third quarter. Trust Co. of Toledo NA OH now owns 8,292 shares of the business services provider's stock worth $1,995,000 after acquiring an additional 45 shares during the period. Schechter Investment Advisors LLC raised its holdings in shares of Automatic Data Processing by 1.1% during the third quarter. Schechter Investment Advisors LLC now owns 4,151 shares of the business services provider's stock worth $999,000 after acquiring an additional 46 shares during the period. Finally, Simon Quick Advisors LLC raised its holdings in shares of Automatic Data Processing by 1.0% during the fourth quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider's stock worth $1,067,000 after acquiring an additional 47 shares during the period. Hedge funds and other institutional investors own 80.03% of the company's stock.

Insiders Place Their Bets

In other news, VP David Kwon sold 863 shares of the firm's 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 sale, the vice president now owns 8,285 shares of the company's stock, valued at approximately $2,071,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Automatic Data Processing news, VP David Kwon sold 863 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares of the company's stock, valued at approximately $2,071,250. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Don Mcguire sold 11,333 shares of the firm's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the transaction, 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. In the last ninety days, insiders sold 15,162 shares of company stock worth $3,741,859. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, February 1st. Evercore ISI boosted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an "underperform" rating in a research note on Tuesday, March 26th. Wolfe Research upgraded shares of Automatic Data Processing from an "underperform" rating to a "peer perform" rating in a research note on Thursday, January 4th. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Tuesday, March 19th. Finally, Bank of America upgraded shares of Automatic Data Processing from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $254.58.

Automatic Data Processing Stock Down 0.1 %

NASDAQ:ADP traded down $0.23 during trading hours on Wednesday, reaching $246.61. The company had a trading volume of 1,453,943 shares, compared to its average volume of 1,804,052. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The firm has a market cap of $101.30 billion, a price-to-earnings ratio of 28.71, a P/E/G ratio of 2.31 and a beta of 0.78. The business's 50-day simple moving average is $247.01 and its two-hundred day simple moving average is $239.26. Automatic Data Processing, Inc. has a twelve month low of $201.46 and a twelve month high of $256.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the firm posted $1.96 earnings per share. The company's revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.27%. Automatic Data Processing's dividend payout ratio (DPR) is presently 65.19%.

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.