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

Security National Bank of Sioux City Iowa IA grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 31.9% during the 2nd quarter, Holdings Channel reports. The firm owned 12,262 shares of the business services provider’s stock after purchasing an additional 2,965 shares during the quarter. Automatic Data Processing makes up approximately 1.1% of Security National Bank of Sioux City Iowa IA’s investment portfolio, 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 filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Compass Capital Management Inc. lifted its position in shares of Automatic Data Processing by 3.0% in the fourth quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock valued at $52,400,000 after acquiring an additional 5,899 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Automatic Data Processing during the second quarter worth approximately $13,283,000. Royal Capital Wealth Management LLC purchased a new stake in shares of Automatic Data Processing during the second quarter worth approximately $1,226,000. Canada Pension Plan Investment Board acquired a new position in Automatic Data Processing in the 2nd quarter valued at $152,706,000. Finally, Fulton Bank N.A. lifted its holdings in Automatic Data Processing by 192.0% in the 2nd quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock valued at $1,605,000 after purchasing an additional 4,711 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.4%

NASDAQ:ADP traded down $1.02 during trading hours on Friday, hitting $271.22. The company had a trading volume of 6,603,272 shares, compared to its average volume of 2,980,726. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average of $268.53 and a 200 day moving average of $234.04. The company has a market cap of $107.74 billion, a P/E ratio of 24.79, a P/E/G ratio of 2.48 and a beta of 0.82. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $294.46.

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, beating the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the company posted $2.26 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Sell-side analysts expect that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a $1.70 dividend. 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 payout ratio is presently 62.16%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ADP. Morgan Stanley lifted their target price on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. TD Cowen raised their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. BMO Capital Markets boosted their price target on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Weiss Ratings raised shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Finally, Cantor Fitzgerald increased their price objective on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $273.50.

Insider Activity

In other news, VP David Kwon sold 798 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $280.00, for a total value of $223,440.00. Following the completion of the sale, the vice president owned 13,193 shares of the company’s stock, valued at $3,694,040. This represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian Michaud sold 120 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the sale, the vice president owned 18,442 shares of the company’s stock, valued at $5,158,227.40. This represents a 0.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 33,773 shares of company stock worth $9,450,629. Corporate insiders own 0.20% of the company’s stock.

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.