Maridea Wealth Management LLC Takes $220,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Maridea Wealth Management LLC bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 750 shares of the business services provider’s stock, valued at approximately $220,000.

Several other institutional investors have also bought and sold shares of ADP. Vanguard Group Inc. boosted its holdings in Automatic Data Processing by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider’s stock worth $11,923,265,000 after acquiring an additional 277,324 shares during the last quarter. State Street Corp boosted its holdings in Automatic Data Processing by 2.4% during the third 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 last quarter. Geode Capital Management LLC grew its position in Automatic Data Processing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock worth $2,906,257,000 after purchasing an additional 286,080 shares in the last quarter. Amundi increased its stake in Automatic Data Processing by 16.8% in the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock valued at $910,972,000 after buying an additional 449,431 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Automatic Data Processing by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,321,849 shares of the business services provider’s stock worth $679,675,000 after buying an additional 69,042 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now owns 3,063 shares of the company’s stock, valued at $929,007.90. This trade represents a 43.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares in the company, valued at approximately $2,218,112.80. The trade was a 6.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,951 shares of company stock valued at $1,762,074 in the last 90 days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $300.83 on Friday. The stock has a market cap of $122.58 billion, a P/E ratio of 31.37, a P/E/G ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The company has a 50 day moving average of $303.87 and a 200 day moving average of $296.32. 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 (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research analyst reports. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Barclays lifted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, UBS Group increased their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. One research analyst has 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, the stock presently has an average rating of “Hold” and a consensus target price of $302.30.

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.