Pinnacle Wealth Management Advisory Group 13F: Adds $2.5M to ADP Stake
Key Points
- Pinnacle Wealth Management Advisory Group lifted its ADP holdings by 139.2% during the quarter, adding 9,810 shares to bring its total investment to 16,859 shares worth about $4.4 million.
- Automatic Data Processing, Inc. recently traded around $304.16, sitting comfortably above both its 50-day and 200-day moving averages.
- Four insiders sold a combined total of 33,842 shares in early September 2026, while Guggenheim recently reiterated a Buy rating with a $340 price target.
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Pinnacle Wealth Management Advisory Group lifted its position in Automatic Data Processing, Inc. (NasdaqGS: ADP) by 139.2%, according to a Form 13F filing with the Securities and Exchange Commission on October 23, 2026. The fund purchased an additional 9,810 shares during the quarter, bringing its total ownership to 16,859 shares. The reported value of the stake reached $4,350,604 at the close of the period.
ADP
Automatic Data Processing, Inc.
What Changed in Pinnacle Wealth Management Advisory Group's Automatic Data Processing, Inc. Position
Pinnacle Wealth Management Advisory Group significantly grew its investment in the human capital management firm. The fund previously held 7,049 shares of the company. With the addition of 9,810 shares, the position grew by a 139.2% margin to 16,859 shares. SEC filings show the value of the holding at $4,350,604.
Other Institutional Activity in Automatic Data Processing, Inc.
Other large institutional investors adjusted their holdings in the software provider around the same time. Mitsubishi Ufj Asset Management reduced its holdings by 1,906,099 shares, ending with 1,023,615 shares worth about $230.2 million. Fundsmith cut its position by 322,864 shares, leaving it with 3,855,105 shares valued at roughly $857.6 million. Verity & Verity trimmed its stake by 2,155 shares, holding 1,033 shares worth approximately $266,576. Ninety One UK reduced its holdings by 400,887 shares, concluding the period with 2,329,634 shares valued at about $601.2 million.
Automatic Data Processing, Inc. Stock Up 3.3%
Automatic Data Processing shares recently traded around $304.16, remaining close to the closing price of $304.16 recorded on the October 23, 2026 filing date. The stock trades above its 50-day moving average of $274.80 and well above its 200-day moving average of $239.41. Shares sit 1.4% below their 52-week high of $308.63 and 61.6% above their 52-week low of $188.16.
Recent Earnings
The company provides cloud-based human resources and payroll solutions. It is scheduled to report its next financial results on October 28, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
3 target cuts vs 1 raises.
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EPS & revenue
EPS beat estimates by 1.7%. Revenue beat estimates by 0.5%.
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Profit surprise
EBITDA met by 1 percent. Operating income met by 1 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 target raise, 3 target cuts.
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Earnings quality
Gross margin down 3.4 points. Operating margin up 0.7 points. Positive free cash flow.
Earnings Call Summary
ADP delivered solid first quarter results with 7 percent revenue growth and 7 percent adjusted earnings per share growth. Employer services bookings accelerated, with strong momentum in ADP Lyric HCM and Workforce Now Next-Gen capturing 80 percent of new mid-market sales. Pays per control rounded to zero percent as clients remained cautious about hiring. PEO revenue grew 7 percent, beating expectations, while the company made strategic progress with the Pequity compensation management acquisition and continued expansion of embedded payroll partnerships with Fiserv.
Guidance ADP reaffirmed its full year revenue growth of 5 to 6 percent and adjusted earnings per share growth of 8 to 10 percent. The company expects employer services revenue to grow 5 to 6 percent for the year, with flat pays per control. PEO revenue is expected to grow 5 to 7 percent, with worksite employee growth of 2 to 3 percent. Client funds interest revenue was raised by 10 million dollars to 1.30 to 1.32 billion dollars.
Clearly negative report. The company missed important expectations and likely triggers downward revisions.
Dividend
The firm pays an annual dividend rate of $6.80 per share, which corresponds to a dividend yield of 2.21%. The payout ratio stands at 60.7%.
Insider Buying and Selling at Automatic Data Processing, Inc.
Several company insiders completed transactions prior to the filing. Chief Executive Officer Maria Black sold 29,810 shares valued at approximately $8,373,873 on September 2, 2026. Officer Christopher D'Ambrosio sold 1,872 shares for about $529,776 at an average price of $283.00 on the same day. Officer David Foskett sold 1,529 shares worth around $432,707 at $283.00 per share on September 2, 2026. Finally, Officer Joseph Desilva sold 631 shares for roughly $178,491 at $282.87 per share on September 3, 2026.
Analysts Set New Price Targets
Wall Street firms updated their views on the stock ahead of the filing. Guggenheim maintained a Buy rating on October 23, 2026, raising its price target to $340.00 from $300.00. Other firms including Citigroup, Morgan Stanley, and Cantor Fitzgerald adjusted their targets earlier in the summer. The stock carries a consensus hold rating from 15 analysts, with a mean price target of $289.07.
About Automatic Data Processing, Inc.
Automatic Data Processing, Inc. is headquartered in Roseland, New Jersey, and employs 67,000 people. The company operates cloud-based human capital management platforms and outsourcing services through its Employer Services and Professional Employer Organization segments. Institutional interest remains strong as the firm delivers enterprise payroll and human resources tools globally.
Bottom Line
Pinnacle Wealth Management Advisory Group expanded its holdings during a period of active institutional rebalancing. Investors will look toward the upcoming earnings release on October 28, 2026, for further details on business performance.
Related Filing Alerts
Source: Pinnacle Wealth Management Advisory Group's 13F filing on $ADP (Oct 23, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts