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

Pinnacle Wealth Management Advisory Group LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 145.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,762 shares of the business services provider's stock after purchasing an additional 6,966 shares during the period. Pinnacle Wealth Management Advisory Group LLC's holdings in Automatic Data Processing were worth $3,443,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in Automatic Data Processing in the 3rd quarter worth $26,000. Dunhill Financial LLC raised its holdings in Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock worth $29,000 after acquiring an additional 149 shares during the period. Sugar Maple Asset Management LLC bought a new position in Automatic Data Processing in the 4th quarter worth $37,000. Capital Performance Advisors LLP bought a new position in Automatic Data Processing in the 3rd quarter worth $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Automatic Data Processing in the 4th quarter worth $37,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the transaction, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock worth $1,617,241 over the last ninety days. Corporate insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ADP. Royal Bank of Canada reiterated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. 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 report on Monday, November 4th. TD Cowen lifted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a report on Friday, November 1st. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Finally, Barclays boosted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Two 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $293.55.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded down $1.25 during trading on Thursday, hitting $311.97. 1,304,464 shares of the company's stock traded hands, compared to its average volume of 1,606,496. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The firm's fifty day moving average price is $298.18 and its 200 day moving average price is $289.59. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $313.72. The company has a market cap of $127.12 billion, a PE ratio of 32.53, a PEG ratio of 3.61 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 1.97%. Automatic Data Processing's dividend payout ratio (DPR) is currently 64.23%.

About Automatic Data Processing

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.