Security National Bank of SO Dak raised its position in Automatic Data Processing (NASDAQ:ADP) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,320 shares of the business services provider’s stock after buying an additional 405 shares during the quarter. Automatic Data Processing accounts for 1.6% of Security National Bank of SO Dak’s holdings, making the stock its 24th biggest holding. Security National Bank of SO Dak’s holdings in Automatic Data Processing were worth $1,375,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ADP. Krane Funds Advisors LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at $25,000. Permanens Capital L.P. acquired a new position in Automatic Data Processing in the 1st quarter valued at $32,000. Mackey Komara & Dankovich LLC grew its holdings in Automatic Data Processing by 428.8% in the 2nd quarter. Mackey Komara & Dankovich LLC now owns 1,084 shares of the business services provider’s stock valued at $35,000 after buying an additional 879 shares in the last quarter. Virtus ETF Advisers LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at $41,000. Finally, MRA Associates USA LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at $42,000. 80.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ADP traded up $0.53 during trading hours on Friday, hitting $159.88. 57,187 shares of the company were exchanged, compared to its average volume of 1,810,107. The company has a market cap of $68.92 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 1.98 and a beta of 0.90. Automatic Data Processing has a fifty-two week low of $121.40 and a fifty-two week high of $174.50. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.37. The firm’s fifty day moving average is $166.18 and its 200 day moving average is $162.76.
Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.01. The company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.50 billion. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. Automatic Data Processing’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 EPS. Analysts anticipate that Automatic Data Processing will post 6.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.79 per share. The ex-dividend date is Thursday, September 12th. This represents a $3.16 annualized dividend and a dividend yield of 1.98%. Automatic Data Processing’s dividend payout ratio is currently 57.98%.
In related news, VP Dermot J. O’brien sold 1,771 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total transaction of $286,972.84. Following the completion of the sale, the vice president now directly owns 14,896 shares in the company, valued at approximately $2,413,747.84. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Brock Albinson sold 6,683 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total value of $1,121,875.21. Following the sale, the vice president now owns 6,302 shares of the company’s stock, valued at $1,057,916.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,846 shares of company stock valued at $9,395,534. 0.33% of the stock is owned by corporate insiders.
A number of research analysts have commented on ADP shares. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Morgan Stanley upped their price objective on Automatic Data Processing from $150.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Barclays increased their target price on Automatic Data Processing from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 target price on the stock in a report on Friday, June 21st. Finally, Bank of America lowered Automatic Data Processing from a “buy” rating to a “neutral” rating in a report on Wednesday, September 11th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $176.10.
Automatic Data Processing Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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