Security National Bank of SO Dak Has $3.10 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Security National Bank of SO Dak grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.5% in the 4th quarter, HoldingsChannel reports. The fund owned 10,585 shares of the business services provider’s stock after purchasing an additional 57 shares during the quarter. Automatic Data Processing makes up 1.7% of Security National Bank of SO Dak’s investment portfolio, making the stock its 12th largest position. Security National Bank of SO Dak’s holdings in Automatic Data Processing were worth $3,099,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Automatic Data Processing by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider’s stock worth $11,923,265,000 after purchasing an additional 277,324 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Automatic Data Processing by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider’s stock valued at $3,098,305,000 after buying an additional 65,965 shares during the period. Northern Trust Corp grew its position in Automatic Data Processing by 17.1% during the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider’s stock worth $1,807,438,000 after buying an additional 902,354 shares in the last quarter. Capital Research Global Investors grew its position in Automatic Data Processing by 26.9% during the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock worth $1,796,415,000 after buying an additional 1,299,390 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Automatic Data Processing by 6.0% during the 4th quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider’s stock worth $1,137,710,000 after acquiring an additional 219,032 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADP has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their target price on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Barclays boosted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, May 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, UBS Group boosted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $303.55.

Insider Activity

In other news, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher D’ambrosio sold 473 shares of Automatic Data Processing stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the transaction, the vice president now owns 7,244 shares in the company, valued at approximately $2,218,112.80. This trade represents a 6.13% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,451 shares of company stock worth $743,024. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 2.1%

Shares of NASDAQ ADP opened at $315.85 on Friday. The company has a market cap of $128.21 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 3.62 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The stock has a 50-day moving average price of $297.75 and a two-hundred day moving average price of $299.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.88 EPS. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 1.95%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.05%.

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.