Cigna Investments Inc. New Takes Position in Automatic Data Processing (ADP)

Cigna Investments Inc. New purchased a new position in Automatic Data Processing (NYSE:ADP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 16,743 shares of the company’s stock, valued at approximately $1,721,000.

Other institutional investors also recently bought and sold shares of the company. Capital International Inc. CA bought a new position in Automatic Data Processing during the fourth quarter worth $771,000. Congress Asset Management Co. MA bought a new position in Automatic Data Processing during the fourth quarter worth $55,906,000. Ladenburg Thalmann Financial Services Inc. increased its position in Automatic Data Processing by 5.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 38,736 shares of the company’s stock worth $3,942,000 after buying an additional 2,051 shares in the last quarter. Guggenheim Capital LLC increased its position in Automatic Data Processing by 1.7% in the fourth quarter. Guggenheim Capital LLC now owns 618,919 shares of the company’s stock worth $63,614,000 after buying an additional 10,391 shares in the last quarter. Finally, Caldera Capital LLC bought a new position in Automatic Data Processing during the fourth quarter worth $881,000.

Institutional Ownership by Quarter for Automatic Data Processing (NYSE:ADP)

Automatic Data Processing (NYSE:ADP) opened at 104.45 on Tuesday. Automatic Data Processing has a 52 week low of $84.36 and a 52 week high of $105.20. The stock has a market cap of $46.89 billion and a P/E ratio of 28.06. The stock has a 50 day moving average of $101.19 and a 200-day moving average of $95.68.

Automatic Data Processing (NYSE:ADP) last released its earnings results on Wednesday, February 1st. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.06. The firm earned $3 billion during the quarter, compared to analysts’ expectations of $3.02 billion. The business’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the business earned $0.74 earnings per share. Analysts forecast that Automatic Data Processing will post $3.66 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Friday, March 10th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, March 8th.

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A number of brokerages have recently commented on ADP. William Blair reissued an “outperform” rating on shares of Automatic Data Processing in a research note on Tuesday, February 7th. Argus reissued a “buy” rating and issued a $118.00 target price on shares of Automatic Data Processing in a research note on Sunday, February 5th. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, February 2nd. BMO Capital Markets reissued a “hold” rating on shares of Automatic Data Processing in a research note on Thursday, February 2nd. Finally, Stifel Nicolaus raised their target price on shares of Automatic Data Processing from $95.00 to $105.00 and gave the company a “hold” rating in a research note on Monday, January 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $102.75.

In other news, VP Brock Albinson sold 1,051 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $102.81, for a total value of $108,053.31. Following the transaction, the vice president now directly owns 5,049 shares of the company’s stock, valued at $519,087.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael C. Eberhard sold 500 shares of Automatic Data Processing stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $105.00, for a total transaction of $52,500.00. Following the completion of the transaction, the insider now directly owns 27,166 shares in the company, valued at $2,852,430. The disclosure for this sale can be found here. Over the last three months, insiders sold 182,191 shares of company stock worth $18,129,035.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

5 Day Chart for NYSE:ADP

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