Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Lincoln National Corp

Lincoln National Corp boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,709 shares of the business services provider’s stock after buying an additional 895 shares during the period. Lincoln National Corp’s holdings in Automatic Data Processing were worth $2,495,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Ardent Capital Management Inc. acquired a new stake in Automatic Data Processing during the 3rd quarter worth $392,000. Americana Partners LLC boosted its stake in shares of Automatic Data Processing by 3.1% during the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock worth $5,330,000 after buying an additional 660 shares during the period. Everence Capital Management Inc. grew its holdings in shares of Automatic Data Processing by 28.5% during the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after buying an additional 3,800 shares during the last quarter. Cyndeo Wealth Partners LLC increased its position in 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 valued at $4,613,000 after acquiring an additional 5,318 shares during the period. Finally, BKM Wealth Management LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at approximately $1,635,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the topic of several analyst reports. 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 research note on Tuesday, March 26th. 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. Mizuho raised their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $255.42.

Insider Activity

In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the firm’s 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 completion of the transaction, 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 document filed with the SEC, which is available through this hyperlink. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the 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 transaction, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Sreenivasa Kutam sold 694 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $249.43, for a total value of $173,104.42. Following the completion of the sale, the vice president now owns 20,687 shares of the company’s stock, valued at $5,159,958.41. The disclosure for this sale can be found here. In the last three months, insiders sold 2,966 shares of company stock worth $749,524. 0.26% of the stock is currently owned by insiders.

Automatic Data Processing Stock Up 1.0 %

Shares of ADP traded up $2.38 during mid-day trading on Tuesday, reaching $245.12. 1,202,179 shares of the stock traded hands, compared to its average volume of 1,781,435. The stock has a fifty day simple moving average of $245.41 and a 200 day simple moving average of $238.92. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a market cap of $100.33 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 2.30 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the company earned $2.52 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.15 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is 62.50%.

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.