Pinnacle Financial Partners Inc. Buys 3,887 Shares of Automatic Data Processing (ADP)

Pinnacle Financial Partners Inc. grew its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 12.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,554 shares of the business services provider’s stock after acquiring an additional 3,887 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Automatic Data Processing were worth $4,049,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Northwest Quadrant Wealth Management LLC raised its position in shares of Automatic Data Processing by 0.5% in the second quarter. Northwest Quadrant Wealth Management LLC now owns 4,221 shares of the business services provider’s stock worth $458,000 after buying an additional 21 shares in the last quarter. PagnatoKarp Partners LLC raised its position in shares of Automatic Data Processing by 1.1% in the second quarter. PagnatoKarp Partners LLC now owns 2,643 shares of the business services provider’s stock worth $272,000 after buying an additional 29 shares in the last quarter. South Texas Money Management Ltd. raised its position in shares of Automatic Data Processing by 1.3% in the second quarter. South Texas Money Management Ltd. now owns 2,335 shares of the business services provider’s stock worth $239,000 after buying an additional 29 shares in the last quarter. Good Life Advisors LLC raised its position in shares of Automatic Data Processing by 1.7% in the second quarter. Good Life Advisors LLC now owns 2,189 shares of the business services provider’s stock worth $227,000 after buying an additional 36 shares in the last quarter. Finally, Carnegie Capital Asset Management LLC raised its position in shares of Automatic Data Processing by 0.4% in the second quarter. Carnegie Capital Asset Management LLC now owns 14,426 shares of the business services provider’s stock worth $1,663,000 after buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 78.55% of the company’s stock.

Automatic Data Processing (NASDAQ:ADP) opened at $112.71 on Thursday. Automatic Data Processing has a 12 month low of $95.50 and a 12 month high of $125.24. The stock has a market capitalization of $49,566.41, a PE ratio of 29.28, a PEG ratio of 2.44 and a beta of 0.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.10. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period last year, the firm earned $0.87 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. sell-side analysts anticipate that Automatic Data Processing will post 4.17 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, March 8th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.24%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.45%.

A number of research analysts recently commented on ADP shares. Bank of America raised Automatic Data Processing from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. BidaskClub raised Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 21st. Morgan Stanley raised Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 target price on the stock in a research note on Tuesday, November 14th. Sanford C. Bernstein increased their target price on Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, October 31st. Finally, Goldman Sachs Group raised Automatic Data Processing from a “neutral” rating to a “buy” rating and increased their target price for the company from $116.02 to $135.00 in a research note on Monday, December 11th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $118.43.

In related news, VP Stuart Sackman sold 238 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $121.65, for a total value of $28,952.70. Following the sale, the vice president now directly owns 18,676 shares of the company’s stock, valued at $2,271,935.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $118.09, for a total value of $11,307,826.04. Following the completion of the sale, the chief executive officer now directly owns 124,722 shares in the company, valued at $14,728,420.98. The disclosure for this sale can be found here. Insiders have sold 149,767 shares of company stock worth $17,801,722 over the last ninety days. Insiders own 0.25% of the company’s stock.

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Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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