Marks Group Wealth Management Inc Sells 1,232 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Marks Group Wealth Management Inc trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Accredited Investors Inc. lifted its holdings in Automatic Data Processing by 4,431.5% in the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider's stock valued at $640,712,000 after buying an additional 2,264,202 shares during the period. International Assets Investment Management LLC lifted its holdings in Automatic Data Processing by 28,478.6% in the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider's stock valued at $3,305,780,000 after buying an additional 1,190,407 shares during the period. Holocene Advisors LP acquired a new stake in Automatic Data Processing in the third quarter worth $160,920,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Automatic Data Processing by 332.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider's stock worth $172,497,000 after purchasing an additional 479,145 shares during the period. Finally, State Street Corp raised its holdings in Automatic Data Processing by 2.4% in 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 period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 0.7 %

Shares of ADP stock traded down $2.07 during trading hours on Friday, hitting $308.15. 1,100,945 shares of the company were exchanged, compared to its average volume of 1,756,367. The business has a 50 day moving average of $297.56 and a two-hundred day moving average of $288.37. 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 52 week low of $231.27 and a 52 week high of $311.67. The company has a market capitalization of $125.56 billion, a PE ratio of 32.13, a PEG ratio of 3.60 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping 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%. Analysts anticipate 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. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.00%. Automatic Data Processing's dividend payout ratio (DPR) is presently 64.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ADP shares. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Barclays increased their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Mizuho increased their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. TD Cowen increased their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a report on Friday, November 1st. Finally, 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. Two 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. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and an average price target of $293.55.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David Foskett sold 1,067 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares of the company's stock, valued at $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,478 shares of company stock valued at $1,617,241. Insiders own 0.21% of the company's stock.

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.