Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,624 shares of the business services provider’s stock after selling 6,073 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Automatic Data Processing were worth $27,699,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ADP. Itau Unibanco Holding S.A. bought a new stake in Automatic Data Processing in the third quarter worth about $26,000. Dunhill Financial LLC raised its position in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Automatic Data Processing in the third quarter worth about $35,000. Sugar Maple Asset Management LLC bought a new stake in Automatic Data Processing in the fourth quarter worth about $37,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Automatic Data Processing in the fourth quarter worth about $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other news, CEO Maria Black sold 721 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of ADP opened at $310.76 on Friday. The company has a market capitalization of $126.62 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 3.65 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $313.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The business’s 50-day moving average is $298.72 and its 200-day moving average is $290.11.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Equities research analysts expect 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, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 1.98%. Automatic Data Processing’s payout ratio is 64.23%.

Analyst Upgrades and Downgrades

ADP has been the topic of several research reports. TD Cowen boosted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Barclays boosted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Mizuho boosted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $293.55.

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.