Pinnacle West Asset Management Inc. Decreases Stock Holdings in Automatic Data Processing, Inc. $ADP

Pinnacle West Asset Management Inc. decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% during the second quarter, Holdings Channel.com reports. The fund owned 5,220 shares of the business services provider’s stock after selling 40 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in Automatic Data Processing were worth $1,610,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Automatic Data Processing by 0.5% in the first quarter. Vanguard Group Inc. now owns 40,949,884 shares of the business services provider’s stock valued at $12,511,418,000 after acquiring an additional 218,614 shares during the period. Ameriprise Financial Inc. increased its position in shares of Automatic Data Processing by 15.7% in the first quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock valued at $1,348,805,000 after acquiring an additional 601,400 shares during the period. Invesco Ltd. increased its position in shares of Automatic Data Processing by 3.7% in the first quarter. Invesco Ltd. now owns 4,031,713 shares of the business services provider’s stock valued at $1,231,809,000 after acquiring an additional 145,161 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Automatic Data Processing by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,848,307 shares of the business services provider’s stock valued at $1,175,773,000 after acquiring an additional 77,296 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Automatic Data Processing by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider’s stock valued at $934,647,000 after acquiring an additional 564,187 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. UBS Group cut 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 note on Wednesday, September 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Automatic Data Processing in a research note on Wednesday. Morgan Stanley lifted their target price on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” 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 note on Thursday, July 10th. Finally, Mizuho lifted their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average price target of $316.70.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Joseph Desilva sold 4,614 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $1,368,373.98. Following the sale, the vice president owned 17,536 shares of the company’s stock, valued at $5,200,651.52. The trade was a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher D’ambrosio sold 597 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $296.90, for a total transaction of $177,249.30. Following the completion of the transaction, the vice president owned 10,541 shares in the company, valued at approximately $3,129,622.90. This represents a 5.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,516 shares of company stock valued at $15,632,410 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

Automatic Data Processing Trading Down 0.2%

NASDAQ:ADP opened at $285.19 on Friday. Automatic Data Processing, Inc. has a one year low of $272.62 and a one year high of $329.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05. The company’s 50-day simple moving average is $297.26 and its 200 day simple moving average is $303.06. The firm has a market capitalization of $115.53 billion, a P/E ratio of 28.58, a PEG ratio of 2.62 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping the consensus estimate 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 business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the firm posted $2.09 earnings per share. Automatic Data Processing’s quarterly revenue was up 6.3% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

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.