Mariner LLC Has $48.15 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Mariner LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 164,486 shares of the business services provider's stock after purchasing an additional 9,032 shares during the period. Mariner LLC's holdings in Automatic Data Processing were worth $48,150,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Automatic Data Processing by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider's stock valued at $11,923,265,000 after purchasing an additional 277,324 shares during the period. Geode Capital Management LLC raised its stake in Automatic Data Processing by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider's stock valued at $3,098,305,000 after acquiring an additional 65,965 shares in the last quarter. Invesco Ltd. boosted its position in Automatic Data Processing by 6.0% during the 4th quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider's stock worth $1,137,710,000 after acquiring an additional 219,032 shares during the period. Amundi increased its holdings in shares of Automatic Data Processing by 16.8% during the fourth quarter. Amundi now owns 3,120,039 shares of the business services provider's stock valued at $910,972,000 after purchasing an additional 449,431 shares during the period. Finally, Charles Schwab Investment Management Inc. raised 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. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 0.3 %

Shares of NASDAQ:ADP traded down $0.86 during midday trading on Friday, hitting $293.28. 1,667,100 shares of the stock were exchanged, compared to its average volume of 1,676,839. The business's fifty day simple moving average is $301.52 and its two-hundred day simple moving average is $298.01. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The company has a market capitalization of $119.50 billion, a PE ratio of 30.58, a P/E/G ratio of 3.62 and a beta of 0.74.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping 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, research 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's dividend payout ratio is 64.23%.

Insider Transactions at Automatic Data Processing

In other news, VP Christopher D'ambrosio sold 473 shares of Automatic Data Processing stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now owns 7,244 shares of the company's stock, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of the business's stock in a transaction 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 sale, the vice president now owns 3,063 shares of the company's stock, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,775 shares of company stock worth $1,447,893 in the last 90 days. 0.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. UBS Group upped their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. Finally, Barclays lifted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $302.30.

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.