Security National Bank of SO Dak acquires 70 shares in Automatic Data Processing, Inc. (NASDAQ:ADP)

Security National Bank of SO Dak raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 0.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 10,638 shares of the business services provider’s stock after purchasing an additional 70 shares during the quarter. Automated Data Processing makes up about 1.5% of SO Dak National Security Bank’s investment portfolio, making the stock its 21st largest holding. SO Dak Security National Bank’s holdings in Automatic Data Processing were worth $2,539,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of ADP. BlueSpruce Investments LP bought a new stake in Automatic Data Processing during the first quarter valued at $365,757,000. Capital Research Global Investors increased its position in shares of Automated Data Processing by 22.5% during the 4th quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock worth $825,487,000 , after buying an additional 649,791 shares in the last quarter. Nordea Investment Management AB raised its stake in Automatic Data Processing by 27.7% in the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after purchasing an additional 589,831 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Automatic Data Processing by 238.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock valued at $195,797,000 after acquiring an additional 552,096 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in Automatic Data Processing by 242.4% during the second quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after purchasing an additional 456,027 shares during the last quarter. 80.03% of the shares are currently held by institutional investors.

Analysts set new price targets

Several equities research analysts have recently issued reports on ADP shares. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Barclays upped their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Citigroup upped their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Bank of America boosted their price target on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $267.83.

Get the latest research report on Automatic Data Processing

Automated data processing stock down 0.3%

Shares of ADP stock opened at $274.43 on Friday. The stock’s 50-day moving average is $267.13, and its two-hundred-day moving average is $252.40. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $281.54. The company has a market cap of $112.32 billion, a PE ratio of 30.63, a PEG ratio of 3.02 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01, and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP – Get Your Free Report ) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automated Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. In the same period last year, the firm earned $1.89 per share. The company’s quarterly revenue was up 7.2% year over year. On average, analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividends Notice

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $1.40 dividend. This represents an annualized dividend of $5.60 and a yield of 2.04%. The ex-dividend date is Friday, September 13. Auto Data’s dividend payout ratio (DPR) is currently 62.50%.

Indoor activity

In related news, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. In other Automated Data Processing news, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the transaction, the chief executive officer now owns 92,807 shares in the company, valued at $25,464,384.66. The transaction was disclosed in a filing with the SEC, which is accessible via this link. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,817 shares of company stock worth $15,999,208. Company insiders own 0.26% of the company’s shares.

About automatic data processing

(Free Report)

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 own ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report).

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