Pinnacle Wealth Planning Services Inc. Sells 968 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Pinnacle Wealth Planning Services Inc. lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 38.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,534 shares of the business services provider's stock after selling 968 shares during the period. Pinnacle Wealth Planning Services Inc.'s holdings in Automatic Data Processing were worth $449,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. AMG National Trust Bank lifted its position in shares of Automatic Data Processing by 0.3% in the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock worth $3,318,000 after purchasing an additional 33 shares during the period. Sentinus LLC increased its position in shares of Automatic Data Processing by 2.3% during the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after buying an additional 35 shares during the period. Rehmann Capital Advisory Group raised its stake in Automatic Data Processing by 1.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock worth $1,079,000 after buying an additional 36 shares during the last quarter. Gilbert & Cook Inc. lifted its holdings in Automatic Data Processing by 2.0% in the fourth quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider's stock valued at $539,000 after buying an additional 37 shares during the period. Finally, Optas LLC boosted its position in Automatic Data Processing by 3.4% during the fourth quarter. Optas LLC now owns 1,114 shares of the business services provider's stock valued at $326,000 after acquiring an additional 37 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ADP shares. UBS Group lifted their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Wall Street Zen lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. TD Securities raised their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. Finally, Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of "Hold" and an average target price of $305.64.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the sale, the vice president now directly owns 7,364 shares in the company, valued at approximately $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,451 shares of company stock valued at $743,024 over the last ninety days. Corporate insiders own 0.21% of the company's stock.

Automatic Data Processing Stock Down 0.0%

NASDAQ ADP traded down $0.02 during trading hours on Thursday, hitting $324.12. The company's stock had a trading volume of 921,682 shares, compared to its average volume of 1,701,072. The company has a market capitalization of $131.57 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $327.99. The company's 50-day simple moving average is $302.72 and its two-hundred day simple moving average is $301.50.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The company had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. During the same quarter in the previous year, the firm earned $2.88 earnings per share. Automatic Data Processing's quarterly revenue was up 5.7% on a year-over-year basis. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's payout ratio is currently 63.05%.

Automatic Data Processing 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.