Pinnacle Wealth Management Advisory Group LLC Buys 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% in the 4th quarter, HoldingsChannel.com reports. The firm 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 quarter.

Other hedge funds have also added to or reduced their stakes in the company. Moloney Securities Asset Management LLC bought a new stake in Automatic Data Processing in the third quarter worth $209,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Automatic Data Processing by 5.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after acquiring an additional 15,340 shares during the last quarter. RIA Advisory Group LLC bought a new position in shares of Automatic Data Processing during the third quarter valued at about $470,000. Littlejohn Financial Services Inc. purchased a new stake in Automatic Data Processing in the fourth quarter worth about $708,000. Finally, Dash Acquisitions Inc. lifted its holdings in Automatic Data Processing by 5.6% in the third quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock worth $15,069,000 after buying an additional 2,781 shares during the period. 80.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing 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 completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,478 shares of company stock valued at $1,617,241. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $308.15 on Friday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve 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. 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 (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping 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%. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

Analyst Ratings Changes

Several analysts have commented on ADP shares. Mizuho raised their price objective 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. Barclays raised 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. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. UBS Group lifted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a 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 issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $293.55.

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.