Pinnacle Wealth Management Advisory Group LLC Has $1.20 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

by · The Cerbat Gem

Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 6.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,966 shares of the business services provider’s stock after purchasing an additional 314 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Automatic Data Processing were worth $1,195,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ADP. ProShare Advisors LLC increased its stake in Automatic Data Processing by 4.9% during the second quarter. ProShare Advisors LLC now owns 1,178,054 shares of the business services provider’s stock valued at $258,924,000 after acquiring an additional 55,156 shares during the period. GSB Wealth Management LLC grew its stake in shares of Automatic Data Processing by 16.3% in the 2nd quarter. GSB Wealth Management LLC now owns 6,256 shares of the business services provider’s stock valued at $1,375,000 after purchasing an additional 877 shares during the period. Meridian Wealth Management LLC grew its stake in shares of Automatic Data Processing by 65.7% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,340 shares of the business services provider’s stock valued at $1,525,000 after purchasing an additional 2,513 shares during the period. Chicago Partners Investment Group LLC grew its stake in shares of Automatic Data Processing by 15.0% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,051 shares of the business services provider’s stock valued at $507,000 after purchasing an additional 268 shares during the period. Finally, Northwest Capital Management Inc bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at approximately $85,000. Institutional investors and hedge funds own 79.37% of the company’s stock.

Automatic Data Processing Trading Up 0.7 %

Shares of ADP stock traded up $1.55 during trading hours on Friday, reaching $235.21. The company had a trading volume of 1,758,513 shares, compared to its average volume of 1,621,312. The company has a 50 day moving average of $229.65 and a 200 day moving average of $236.82. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $96.74 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 2.18 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $201.46 and a 1-year high of $256.84.

Automatic Data Processing (NASDAQ:ADP – Get Free Report) last posted its quarterly earnings results on Wednesday, October 25th. The business services provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. The company had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.52 billion. Automatic Data Processing had a return on equity of 102.59% and a net margin of 19.07%. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 8th were given a $1.40 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.38%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.25. Automatic Data Processing’s dividend payout ratio is currently 66.59%.

Analysts Set New Price Targets

ADP has been the topic of several analyst reports. Mizuho lowered their price objective on Automatic Data Processing from $285.00 to $255.00 and set a “buy” rating on the stock in a research note on Tuesday, October 31st. Stifel Nicolaus reaffirmed a “hold” rating and set a $250.00 price objective on shares of Automatic Data Processing in a report on Thursday, November 30th. UBS Group assumed coverage on Automatic Data Processing in a report on Tuesday, November 7th. They set a “neutral” rating and a $235.00 price objective on the stock. Morgan Stanley reduced their price objective on Automatic Data Processing from $260.00 to $250.00 and set an “equal weight” rating on the stock in a report on Thursday, October 26th. Finally, Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $250.50.

Get Our Latest Analysis on ADP

Automatic Data Processing Profile

(Free Report)

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.

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