Pinnacle West Asset Management Inc. Sells 40 Shares of Automatic Data Processing, Inc. $ADP

Pinnacle West Asset Management Inc. cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,220 shares of the business services provider’s stock after selling 40 shares during the period. Pinnacle West Asset Management Inc.’s holdings in Automatic Data Processing were worth $1,610,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ADP. Nuveen LLC bought a new position in Automatic Data Processing in the 1st quarter worth approximately $661,771,000. Mackenzie Financial Corp boosted its holdings in Automatic Data Processing by 128.1% in the 1st quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider’s stock valued at $484,480,000 after purchasing an additional 890,440 shares during the period. Ameriprise Financial Inc. boosted its holdings in Automatic Data Processing by 15.7% in the 1st quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock valued at $1,348,805,000 after purchasing an additional 601,400 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Automatic Data Processing by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider’s stock valued at $934,647,000 after purchasing an additional 564,187 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Automatic Data Processing by 110.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 608,997 shares of the business services provider’s stock valued at $186,067,000 after purchasing an additional 319,132 shares during the period. 80.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ADP. Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Mizuho raised their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 13th. UBS Group cut their price target on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Automatic Data Processing in a report on Wednesday. Finally, Dbs Bank raised shares of Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $316.70.

Insider Buying and Selling

In related news, VP David Foskett sold 1,373 shares of Automatic Data Processing stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $407,190.61. Following the transaction, the vice president owned 11,781 shares in the company, valued at $3,493,891.17. This trade represents a 10.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael A. Bonarti sold 8,728 shares of Automatic Data Processing stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total transaction of $2,604,697.04. Following the completion of the transaction, the vice president owned 80,531 shares in the company, valued at approximately $24,032,866.33. The trade was a 9.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,516 shares of company stock worth $15,632,410 over the last 90 days. Insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $285.19 on Friday. 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. The company has a market capitalization of $115.53 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.62 and a beta of 0.82. The company has a fifty day moving average of $297.26 and a 200-day moving average of $303.06.

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

Automatic Data Processing Dividend Announcement

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

Automatic Data Processing Company 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.