Pinnacle Wealth Management Advisory Group LLC acquired a new position in shares of Automatic Data Processing (NASDAQ:ADP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,450 shares of the business services provider’s stock, valued at approximately $218,000.
Several other hedge funds also recently added to or reduced their stakes in the company. Atlantic Trust LLC bought a new position in Automatic Data Processing in the 2nd quarter valued at about $104,000. Integrated Investment Consultants LLC bought a new position in Automatic Data Processing in the 2nd quarter valued at about $111,000. Willingdon Wealth Management lifted its position in Automatic Data Processing by 328.5% in the 3rd quarter. Willingdon Wealth Management now owns 857 shares of the business services provider’s stock valued at $129,000 after acquiring an additional 657 shares in the last quarter. Fort L.P. bought a new position in Automatic Data Processing in the 2nd quarter valued at about $119,000. Finally, Kaizen Advisory LLC lifted its position in Automatic Data Processing by 149.7% in the 2nd quarter. Kaizen Advisory LLC now owns 1,081 shares of the business services provider’s stock valued at $145,000 after acquiring an additional 648 shares in the last quarter. 79.88% of the stock is currently owned by institutional investors.
NASDAQ:ADP opened at $140.52 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $62.79 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 2.18 and a beta of 0.91. Automatic Data Processing has a 52 week low of $107.61 and a 52 week high of $153.51.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 31st. The business services provider reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.09. The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.28 billion. Automatic Data Processing had a net margin of 12.71% and a return on equity of 50.96%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. Equities analysts forecast that Automatic Data Processing will post 5.26 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be paid a $0.79 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.69. The ex-dividend date is Thursday, December 13th. This represents a $3.16 annualized dividend and a yield of 2.25%. Automatic Data Processing’s dividend payout ratio (DPR) is 63.45%.
In other news, VP Brock Albinson sold 3,345 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $144.35, for a total transaction of $482,850.75. Following the completion of the sale, the vice president now owns 6,081 shares in the company, valued at approximately $877,792.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 101,620 shares of the firm’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $147.46, for a total transaction of $14,984,885.20. Following the sale, the chief executive officer now owns 199,405 shares of the company’s stock, valued at approximately $29,404,261.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,767 shares of company stock valued at $26,396,593. Company insiders own 0.33% of the company’s stock.
ADP has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on shares of Automatic Data Processing in a research report on Monday, October 1st. They issued a “hold” rating and a $160.00 price target on the stock. Barclays initiated coverage on shares of Automatic Data Processing in a research report on Wednesday, November 14th. They issued an “overweight” rating and a $168.00 price target on the stock. Zacks Investment Research reaffirmed a “hold” rating on shares of Automatic Data Processing in a research report on Monday, November 12th. Guggenheim initiated coverage on shares of Automatic Data Processing in a research report on Monday, August 20th. They issued a “buy” rating and a $175.00 price target on the stock. Finally, Moffett Nathanson initiated coverage on shares of Automatic Data Processing in a research report on Thursday, October 4th. They issued a “buy” rating and a $180.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $151.19.
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Automatic Data Processing Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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