Linden Thomas Advisory Services LLC Purchases New Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Linden Thomas Advisory Services LLC purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,126 shares of the business services provider’s stock, valued at approximately $262,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ADP. Ardent Capital Management Inc. bought a new position in Automatic Data Processing during the third quarter valued at about $392,000. Americana Partners LLC grew its position in shares of Automatic Data Processing by 3.1% during the 3rd quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock valued at $5,330,000 after acquiring an additional 660 shares during the period. Everence Capital Management Inc. increased its stake in shares of Automatic Data Processing by 28.5% during the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after purchasing an additional 3,800 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in shares of Automatic Data Processing by 36.7% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after purchasing an additional 5,318 shares during the period. Finally, BKM Wealth Management LLC purchased a new position in Automatic Data Processing in the fourth quarter valued at approximately $1,635,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the sale, 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 Securities & Exchange Commission, which is available at the SEC website. In other news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the transaction, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,162 shares of company stock worth $3,741,859. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $243.07 on Friday. 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 fifty-two week low of $205.53 and a fifty-two week high of $256.84. The firm has a market cap of $99.85 billion, a P/E ratio of 28.30, a P/E/G ratio of 2.32 and a beta of 0.78. The business’s 50 day moving average price is $246.70 and its 200-day moving average price is $239.26.

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

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.30%. Automatic Data Processing’s payout ratio is 65.19%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of recent research reports. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. Mizuho raised their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Evercore ISI lifted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $254.58.

Automatic Data Processing Company 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.