Pinnacle Wealth Management Advisory Group LLC Sells 97 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Pinnacle Wealth Management Advisory Group LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,869 shares of the business services provider’s stock after selling 97 shares during the quarter. 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.

A number of other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in Automatic Data Processing by 22,539.4% during the 4th quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock valued at $217,670,000 after acquiring an additional 930,199 shares during the period. Invesco Ltd. increased its position in Automatic Data Processing by 40.7% during the 3rd quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock valued at $752,703,000 after buying an additional 905,043 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Automatic Data Processing by 65.5% in the third quarter. Envestnet Asset Management Inc. now owns 1,402,511 shares of the business services provider’s stock worth $337,416,000 after acquiring an additional 555,184 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Automatic Data Processing by 18.3% in the third quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock worth $855,287,000 after acquiring an additional 553,946 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Automatic Data Processing during the third quarter valued at $107,401,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In related news, VP Joseph Desilva sold 1,904 shares of the stock in a transaction 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 sale, the vice president now owns 17,179 shares in the company, valued at approximately $4,380,645. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Sreenivasa Kutam sold 368 shares of the business’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 completion of the transaction, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the sale, 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. In the last quarter, insiders sold 2,966 shares of company stock valued at $749,524. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ADP shares. TD Cowen decreased their target price on shares of 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. dropped their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, February 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Price Performance

ADP traded down $2.18 during trading on Wednesday, reaching $242.94. 1,133,452 shares of the company traded hands, compared to its average volume of 1,774,157. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84. The firm has a fifty day simple moving average of $245.29 and a 200 day simple moving average of $238.95. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $99.43 billion, a P/E ratio of 27.11, a PEG ratio of 2.30 and a beta of 0.78.

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, beating the consensus estimate of $2.79 by $0.09. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate 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 was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.52 EPS. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.15 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders 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 dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend 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.