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

Marks Group Wealth Management Inc lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,193 shares of the business services provider’s stock after selling 1,232 shares during the period. 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 hedge funds have also modified their holdings of ADP. Lester Murray Antman dba SimplyRich boosted its position in shares of Automatic Data Processing by 1.2% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 6,152 shares of the business services provider’s stock worth $1,800,000 after purchasing an additional 75 shares during the period. Avidian Wealth Enterprises LLC lifted its stake in Automatic Data Processing by 9.7% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,410 shares of the business services provider’s stock worth $413,000 after purchasing an additional 125 shares in the last quarter. Kentucky Trust Co purchased a new position in shares of Automatic Data Processing during the fourth quarter worth $381,000. Gladstone Institutional Advisory LLC grew its stake in shares of Automatic Data Processing by 12.7% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 5,048 shares of the business services provider’s stock valued at $1,478,000 after buying an additional 569 shares in the last quarter. Finally, Community Financial Services Group LLC raised its holdings in shares of Automatic Data Processing by 2.1% in the 4th quarter. Community Financial Services Group LLC now owns 7,380 shares of the business services provider’s stock valued at $2,160,000 after buying an additional 155 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at $929,007.90. This represents a 43.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction that occurred on 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 owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $305.78 on Wednesday. The company has a market cap of $124.59 billion, a P/E ratio of 31.89, a PEG ratio of 3.60 and a beta of 0.79. The firm has a fifty day moving average price of $297.21 and a 200 day moving average price of $287.34. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $311.67.

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

Automatic Data Processing Announces Dividend

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

Analyst Ratings Changes

ADP has been the subject of a number of research analyst reports. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Mizuho raised their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. UBS Group lifted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, TD Cowen boosted 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $293.55.

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.