Linden Thomas Advisory Services LLC Invests $262,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Linden Thomas Advisory Services LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,126 shares of the business services provider’s stock, valued at approximately $262,000.

Several other hedge funds also recently bought and sold shares of the business. OFI Invest Asset Management bought a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $25,000. Fortitude Family Office LLC purchased a new stake in shares of Automatic Data Processing in the 4th quarter worth $35,000. Raleigh Capital Management Inc. grew its position in shares of Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after buying an additional 89 shares in the last quarter. Carmel Capital Partners LLC increased its stake in shares of Automatic Data Processing by 43.4% during the third quarter. Carmel Capital Partners LLC now owns 228 shares of the business services provider’s stock valued at $55,000 after buying an additional 69 shares during the period. Finally, VisionPoint Advisory Group LLC increased its stake in shares of 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 valued at $57,000 after buying an additional 181 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $243.07 on Friday. The firm’s fifty day moving average is $246.70 and its two-hundred day moving average is $239.26. The firm has a market cap of $99.85 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 2.32 and a beta of 0.78. 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 one year low of $205.53 and a one year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.96 earnings per share. Research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS 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. Stockholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. Automatic Data Processing’s payout ratio is 65.19%.

Analyst Ratings Changes

ADP has been the topic of several recent research reports. Evercore ISI increased their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock 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 research note on Tuesday, March 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, February 1st. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their target price for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Finally, Mizuho boosted their price target on 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 analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $254.58.

Insider Activity

In related news, VP Joseph Desilva sold 1,904 shares of the stock in a transaction 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 sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Joseph Desilva sold 1,904 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now owns 17,179 shares in the company, valued at approximately $4,380,645. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock valued at $3,741,859 in the last three months. 0.26% of the stock is currently owned by corporate insiders.

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.