Security National Bank of SO Dak Purchases 70 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Security National Bank of SO Dak lifted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.7% in the 2nd 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. Automatic Data Processing accounts for approximately 1.5% of Security National Bank of SO Dak’s investment portfolio, making the stock its 21st largest holding. Security National Bank of SO Dak’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 worth $365,757,000. Capital Research Global Investors lifted its position in shares of Automatic 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 during the last quarter. Nordea Investment Management AB boosted 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 buying 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 acquiring an additional 456,027 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ADP shares. Jefferies Financial Group lifted their price target 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 boosted 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 price target 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 upped their target price 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $267.83.

Automatic Data Processing Stock Down 0.3 %

Shares of ADP opened at $274.43 on Friday. The stock’s 50-day moving average price is $267.13 and its two-hundred day moving average price 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 capitalization 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) 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. Automatic 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. During the same period in the previous year, the firm earned $1.89 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business 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 $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Insider Activity

In related news, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 document filed with the SEC, which can be accessed through this link. In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction 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 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 through this link. Also, VP David Kwon sold 846 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was 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 stock.

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.