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Pinnacle Wealth Planning Services Inc. Increases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Posted on July 3, 2022 By admin No Comments on Pinnacle Wealth Planning Services Inc. Increases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 32.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,960 shares of the business services provider’s stock after acquiring an additional 478 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Automatic Data Processing were worth $446,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ADP. Sandy Cove Advisors LLC bought a new stake in Automatic Data Processing in the 4th quarter worth approximately $28,000. Tortoise Investment Management LLC lifted its position in Automatic Data Processing by 70.8% in the 4th quarter. Tortoise Investment Management LLC now owns 123 shares of the business services provider’s stock worth $30,000 after buying an additional 51 shares during the last quarter. Delos Wealth Advisors LLC increased its stake in Automatic Data Processing by 588.9% in the 4th quarter. Delos Wealth Advisors LLC now owns 124 shares of the business services provider’s stock worth $31,000 after purchasing an additional 106 shares during the period. Sierra Capital LLC purchased a new position in Automatic Data Processing in the 4th quarter worth approximately $39,000. Finally, Industrial Alliance Investment Management Inc. purchased a new position in Automatic Data Processing in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 78.84% of the company’s stock.

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 312 shares of the stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $214.07, for a total value of $66,789.84. Following the transaction, the vice president now owns 1,663 shares of the company’s stock, valued at $355,998.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Deborah L. Dyson sold 2,787 shares of the stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $234.55, for a total value of $653,690.85. Following the completion of the transaction, the vice president now directly owns 26,663 shares in the company, valued at approximately $6,253,806.65. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Automatic Data Processing stock opened at $213.23 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $214.72 and its two hundred day simple moving average is $218.63. Automatic Data Processing, Inc. has a 12 month low of $192.26 and a 12 month high of $248.96. The company has a market capitalization of $89.08 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 2.62 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP – Get Rating) last released its earnings results on Wednesday, April 27th. The business services provider reported $2.21 EPS for the quarter, topping the consensus estimate of $2.07 by $0.14. The business had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.45 billion. Automatic Data Processing had a return on equity of 56.01% and a net margin of 17.77%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.89 earnings per share. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 6.97 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 10th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, June 9th. Automatic Data Processing’s payout ratio is currently 61.45%.

ADP has been the subject of a number of analyst reports. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and set a $223.00 price target on the stock in a research note on Wednesday, March 9th. Deutsche Bank Aktiengesellschaft boosted their target price on Automatic Data Processing from $203.00 to $234.00 in a research note on Thursday, April 28th. Citigroup boosted their target price on Automatic Data Processing from $212.00 to $230.00 in a research note on Monday, May 2nd. Mizuho raised their price target on Automatic Data Processing from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, May 2nd. Finally, Barclays raised their price target on Automatic Data Processing from $238.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, May 2nd. One equity research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $230.69.

About Automatic Data Processing: (Get Rating)

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.

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Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating).

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

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Finança Tags:05301510:, 13F:, ADP:, Automatic Data Processing:, Business Service:, Hedge Fund Holdings:, Institutional Investor Holdings:, NASDAQ:ADP:, SEC Filings:

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