First National Bank of Omaha Purchases New Shares in Automatic Data Processing, Inc. $ADP

First National Bank of Omaha acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, HoldingsChannel reports. The fund acquired 11,297 shares of the business services provider’s stock, valued at approximately $2,536,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Automatic Data Processing in the second quarter valued at about $8,097,229,000. State Street Corp boosted its holdings 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 valued at $4,903,769,000 after purchasing an additional 133,039 shares during the period. Geode Capital Management LLC grew its position in shares of 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 in the last quarter. Capital Research Global Investors grew its position in shares of 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 in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Automatic Data Processing by 8.0% during the fourth quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock worth $1,896,944,000 after purchasing an additional 544,210 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ADP. UBS Group boosted their price target on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group cut their target price on Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Robert W. Baird decreased their price target on Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. TD Cowen boosted their price target on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Finally, Guggenheim increased their price objective on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing Trading Up 2.9%

Shares of ADP stock opened at $277.22 on Thursday. The stock’s fifty day moving average price is $247.50 and its two-hundred day moving average price is $225.70. The company has a market cap of $110.13 billion, a PE ratio of 25.34 and a beta of 0.81. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $310.08. 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 posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the firm earned $2.26 EPS. Automatic Data Processing’s revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s payout ratio is currently 62.16%.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the transaction, the vice president owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company’s stock.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.