Security National Bank of Sioux City Iowa IA Sells 122 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Security National Bank of Sioux City Iowa IA lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,647 shares of the business services provider’s stock after selling 122 shares during the period. Automatic Data Processing comprises approximately 1.7% of Security National Bank of Sioux City Iowa IA’s investment portfolio, making the stock its 15th biggest holding. Security National Bank of Sioux City Iowa IA’s holdings in Automatic Data Processing were worth $2,303,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ADP. Kiely Wealth Advisory Group Inc. purchased a new position in Automatic Data Processing during the second quarter valued at approximately $27,000. Keener Financial Planning LLC increased its holdings in Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after buying an additional 76 shares during the period. Crewe Advisors LLC purchased a new position in Automatic Data Processing during the first quarter valued at approximately $33,000. Pathway Financial Advisers LLC purchased a new position in Automatic Data Processing during the first quarter valued at approximately $36,000. Finally, Pineridge Advisors LLC purchased a new position in Automatic Data Processing in the fourth quarter worth $39,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $274.43 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $281.54. The business has a 50-day moving average price of $267.13 and a 200 day moving average price of $252.40. The firm has a market cap of $112.32 billion, a PE ratio of 30.63, a P/E/G ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.89 earnings per share. Sell-side analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Insiders Place Their Bets

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares in the company, valued at approximately $11,440,548.48. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock worth $15,999,208 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ADP. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Citigroup raised their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday. Jefferies Financial Group lifted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Finally, Barclays lifted their price target on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $267.83.

About Automatic Data Processing

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.