Security National Bank of Sioux City Iowa IA Increases Stock Holdings in Automatic Data Processing, Inc. $ADP

Security National Bank of Sioux City Iowa IA boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 31.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,262 shares of the business services provider’s stock after buying an additional 2,965 shares during the period. Automatic Data Processing makes up 1.1% of Security National Bank of Sioux City Iowa IA’s holdings, making the stock its 27th largest position. Security National Bank of Sioux City Iowa IA’s holdings in Automatic Data Processing were worth $2,746,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Automatic Data Processing in the 2nd quarter valued at approximately $8,097,229,000. State Street Corp boosted its stake in Automatic Data Processing by 0.7% in the 4th quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock worth $4,903,769,000 after purchasing an additional 133,039 shares in the last quarter. Geode Capital Management LLC grew its position in Automatic Data Processing by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock worth $2,977,777,000 after purchasing an additional 136,876 shares during the last quarter. Capital Research Global Investors grew its position in Automatic Data Processing by 4.6% during the 4th quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock worth $2,159,088,000 after purchasing an additional 372,413 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Automatic Data Processing during the 2nd quarter valued at approximately $1,231,175,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup raised their price target on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. TD Cowen raised their target price on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Wells Fargo & Company lifted their price target on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, Stifel Nicolaus boosted their price target on Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $273.50.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 120 shares of Automatic Data Processing stock in a transaction on Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the transaction, the vice president owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the sale, the chief executive officer directly owned 80,624 shares in the company, valued at approximately $22,648,087.84. The trade was a 26.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 33,773 shares of company stock valued at $9,450,629. Insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock traded down $1.02 during trading on Friday, hitting $271.22. 6,603,272 shares of the company’s stock were exchanged, compared to its average volume of 2,980,726. The stock has a market capitalization of $107.74 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 2.48 and a beta of 0.82. The business has a 50-day simple moving average of $268.53 and a 200-day simple moving average of $234.04. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $294.46. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.05. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, research analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.16%.

Automatic Data Processing Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management (HCM) solutions and business outsourcing services. The company helps organizations manage payroll, employment taxes, human resources administration, employee benefits, workforce management, talent management, and compliance.

ADP offers cloud-based products for businesses of different sizes, including payroll and HR platforms, time and attendance tools, recruiting and talent solutions, benefits administration, and data and analytics services.