Marks Group Wealth Management Inc Acquires New Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

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

A number of other large investors have also recently added to or reduced their stakes in the stock. OFI Invest Asset Management acquired a new stake in shares of Automatic Data Processing in the third quarter valued at about $25,000. Fortitude Family Office LLC acquired a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $35,000. Raleigh Capital Management Inc. boosted its position in shares of Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 89 shares during the period. Carmel Capital Partners LLC grew its stake in shares of Automatic Data Processing by 43.4% in the third quarter. Carmel Capital Partners LLC now owns 228 shares of the business services provider’s stock worth $55,000 after acquiring an additional 69 shares during the last quarter. Finally, VisionPoint Advisory Group LLC increased its position in Automatic Data Processing by 323.2% during the third quarter. VisionPoint Advisory Group LLC now owns 237 shares of the business services provider’s stock worth $57,000 after acquiring an additional 181 shares during the period. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

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

Automatic Data Processing Stock Up 0.2 %

NASDAQ ADP opened at $246.84 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52 week low of $201.46 and a 52 week high of $256.84. The stock has a market capitalization of $101.40 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78. The stock has a fifty day moving average of $247.09 and a 200-day moving average of $239.21.

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

Automatic Data Processing Announces Dividend

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

Insider Transactions at Automatic Data Processing

In related news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the transaction, the vice president now owns 17,179 shares in the company, valued at $4,380,645. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the transaction, the vice president now directly owns 17,179 shares in the company, valued at $4,380,645. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP David Kwon sold 863 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the sale, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. 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 company insiders.

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.