Pinnacle Wealth Management Advisory Group LLC Lowers Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Pinnacle Wealth Management Advisory Group LLC decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,869 shares of the business services provider’s stock after selling 97 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Automatic Data Processing were worth $1,134,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new position in Automatic Data Processing in the third quarter worth approximately $25,000. Fortitude Family Office LLC purchased a new position in Automatic Data Processing in the fourth quarter valued at $35,000. Evolution Advisers Inc. purchased a new stake in Automatic Data Processing during the 4th quarter worth about $41,000. Raleigh Capital Management Inc. boosted 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 acquiring an additional 89 shares in the last quarter. Finally, Bfsg LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth about $42,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of research analyst reports. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. Barclays boosted their target price on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. TD Cowen decreased their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. reduced their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Finally, Evercore ISI upped their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Price Performance

Shares of ADP stock traded down $2.18 during midday trading on Wednesday, reaching $242.94. 1,133,452 shares of the company traded hands, compared to its average volume of 1,774,157. The firm has a market cap of $99.43 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50 day simple moving average is $245.29 and its two-hundred day simple moving average is $238.95. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84.

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

Automatic Data Processing Dividend Announcement

The business also recently declared 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. This represents a $5.60 annualized dividend and a yield of 2.31%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is 62.50%.

Insider Transactions at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the transaction, the vice president now 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 Securities & Exchange Commission, which is available at the SEC website. In other news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now owns 17,179 shares of the company’s stock, valued at $4,380,645. The disclosure for this sale can be found here. Insiders sold a total of 2,966 shares of company stock valued at $749,524 over the last three months. 0.26% of the stock is currently owned by insiders.

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.