Pinnacle Wealth Management Advisory Group LLC Acquires 6,966 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 145.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,762 shares of the business services provider’s stock after acquiring an additional 6,966 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Automatic Data Processing were worth $3,443,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. State Street Corp lifted its position in Automatic Data Processing by 2.4% in the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after acquiring an additional 424,328 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Automatic Data Processing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock worth $2,906,257,000 after buying an additional 286,080 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Automatic Data Processing by 1.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock worth $896,197,000 after buying an additional 41,709 shares in the last quarter. Accredited Investors Inc. lifted its position in shares of Automatic Data Processing by 4,431.5% during the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after buying an additional 2,264,202 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Automatic Data Processing by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,252,807 shares of the business services provider’s stock worth $623,419,000 after buying an additional 17,717 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group lifted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Barclays lifted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Mizuho lifted their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Trading Down 0.7 %

Shares of ADP stock opened at $308.15 on Friday. The company has a 50 day moving average of $297.56 and a 200-day moving average of $288.37. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $311.67. The firm has a market cap of $125.56 billion, a P/E ratio of 32.13, a PEG ratio of 3.60 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. Automatic Data Processing’s dividend payout ratio is 64.23%.

Insider Activity at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David Foskett sold 1,004 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $289.29, for a total transaction of $290,447.16. Following the transaction, the vice president now owns 5,958 shares of the company’s stock, valued at $1,723,589.82. This trade represents a 14.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,478 shares of company stock worth $1,617,241. Corporate insiders own 0.21% of the company’s stock.

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.