2,048 Shares in Automatic Data Processing, Inc. $ADP Purchased by Pinnacle Wealth Management Group Inc.

Pinnacle Wealth Management Group Inc. purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,048 shares of the business services provider’s stock, valued at approximately $632,000.

Other institutional investors have also modified their holdings of the company. Activest Wealth Management raised its stake in Automatic Data Processing by 2,600.0% during the first quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock valued at $25,000 after buying an additional 78 shares in the last quarter. Harbor Asset Planning Inc. acquired a new stake in Automatic Data Processing during the second quarter valued at approximately $26,000. Mid American Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing during the second quarter valued at approximately $26,000. Clarity Asset Management Inc. acquired a new stake in Automatic Data Processing during the first quarter valued at approximately $29,000. Finally, von Borstel & Associates Inc. acquired a new stake in Automatic Data Processing during the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of several research reports. Citigroup initiated coverage on Automatic Data Processing in a research note on Thursday. They set a “neutral” rating and a $303.00 price objective on the stock. Dbs Bank upgraded Automatic Data Processing to a “hold” rating in a research note on Thursday, August 21st. UBS Group lowered their target price on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Automatic Data Processing in a report on Friday. Finally, BMO Capital Markets raised Automatic Data Processing to a “hold” rating and set a $340.00 target price for the company in a report on Thursday, July 10th. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $313.17.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $280.94 on Friday. Automatic Data Processing, Inc. has a 12-month low of $272.62 and a 12-month high of $329.93. The firm has a market capitalization of $113.81 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 2.58 and a beta of 0.82. The business has a 50 day simple moving average of $293.36 and a 200 day simple moving average of $302.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the company posted $2.09 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, September 12th. Automatic Data Processing’s dividend payout ratio is 61.72%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Joseph Desilva sold 4,614 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $1,368,373.98. Following the completion of the sale, the vice president directly owned 17,536 shares in the company, valued at $5,200,651.52. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Maria Black sold 23,605 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $298.32, for a total value of $7,041,843.60. Following the completion of the sale, the chief executive officer owned 76,161 shares of the company’s stock, valued at $22,720,349.52. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,516 shares of company stock worth $15,632,410. 0.20% of the stock is owned by company insiders.

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.