Marcum Wealth LLC Raises Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Marcum Wealth LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,171 shares of the business services provider’s stock after buying an additional 90 shares during the period. Marcum Wealth LLC’s holdings in Automatic Data Processing were worth $636,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ADP. Oppenheimer Asset Management Inc. grew its stake in shares of Automatic Data Processing by 0.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,426 shares of the business services provider’s stock worth $3,682,000 after buying an additional 130 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Automatic Data Processing by 13.6% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 23,508 shares of the business services provider’s stock worth $5,621,000 after acquiring an additional 2,806 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Automatic Data Processing in the 2nd quarter worth about $27,044,000. Moors & Cabot Inc. lifted its holdings in shares of Automatic Data Processing by 0.7% in the 2nd quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock worth $1,360,000 after acquiring an additional 39 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its holdings in shares of Automatic Data Processing by 237.6% in the 2nd quarter. Edgestream Partners L.P. now owns 6,728 shares of the business services provider’s stock worth $1,606,000 after acquiring an additional 4,735 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ADP shares. UBS Group raised their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. TD Cowen lifted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Mizuho lifted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Royal Bank of Canada lifted their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Two equities research 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $289.91.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Maria Black sold 721 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the sale, the chief executive officer now directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,129 shares of company stock valued at $12,604,872 in the last 90 days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Up 0.5 %

NASDAQ:ADP opened at $291.69 on Wednesday. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $309.63. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $118.85 billion, a P/E ratio of 31.13, a P/E/G ratio of 3.50 and a beta of 0.79. The firm has a 50-day simple moving average of $298.48 and a 200-day simple moving average of $279.35.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the previous year, the business posted $2.08 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were given a $1.54 dividend. The ex-dividend date was Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.11%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s payout ratio is presently 65.74%.

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.