Pinnacle Wealth Management Group Inc. Makes New Investment in Automatic Data Processing, Inc. $ADP

Pinnacle Wealth Management Group Inc. bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,048 shares of the business services provider’s stock, valued at approximately $632,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. AlphaCore Capital LLC acquired a new stake in shares of Automatic Data Processing during the 1st quarter valued at $688,000. Golden State Wealth Management LLC lifted its holdings in shares of Automatic Data Processing by 29.6% in the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider’s stock valued at $173,000 after purchasing an additional 129 shares in the last quarter. Advisory Alpha LLC lifted its holdings in shares of Automatic Data Processing by 130.2% in the first quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider’s stock valued at $1,349,000 after purchasing an additional 2,498 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its holdings in shares of Automatic Data Processing by 4.4% in the first quarter. Meiji Yasuda Life Insurance Co now owns 32,478 shares of the business services provider’s stock valued at $9,923,000 after purchasing an additional 1,375 shares in the last quarter. Finally, MGO One Seven LLC lifted its holdings in shares of Automatic Data Processing by 18.3% in the second quarter. MGO One Seven LLC now owns 13,578 shares of the business services provider’s stock valued at $4,187,000 after purchasing an additional 2,105 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.2%

Shares of NASDAQ:ADP opened at $280.94 on Friday. The company has a market cap of $113.81 billion, a P/E ratio of 28.15, a P/E/G ratio of 2.58 and a beta of 0.82. The stock’s 50-day moving average is $293.36 and its 200-day moving average is $302.04. Automatic Data Processing, Inc. has a 52-week low of $272.62 and a 52-week high of $329.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05.

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

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, September 12th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 61.72%.

Insider Buying and Selling

In other news, VP David Foskett sold 1,373 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $407,190.61. Following the sale, the vice president directly owned 11,781 shares of the company’s stock, valued at approximately $3,493,891.17. This trade represents a 10.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Don Mcguire sold 13,599 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $4,033,055.43. Following the completion of the sale, the vice president directly owned 17,684 shares in the company, valued at approximately $5,244,543.88. This represents a 43.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,516 shares of company stock valued at $15,632,410 in the last quarter. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of research reports. Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. BMO Capital Markets raised shares of Automatic Data Processing to a “hold” rating and set a $340.00 target price on the stock in a research report on Thursday, July 10th. Citigroup started coverage on shares of Automatic Data Processing in a research report on Thursday. They set a “neutral” rating and a $303.00 target price on the stock. Wells Fargo & Company started coverage on shares of Automatic Data Processing in a research report on Wednesday. They set an “underweight” rating and a $288.00 target price on the stock. Finally, UBS Group lowered their target price on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 17th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $313.17.

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.