Fairfield Financial Advisors LTD Has $7.36 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Fairfield Financial Advisors LTD reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,131 shares of the business services provider’s stock after selling 215 shares during the period. Automatic Data Processing accounts for about 2.6% of Fairfield Financial Advisors LTD’s portfolio, making the stock its 13th largest holding. Fairfield Financial Advisors LTD’s holdings in Automatic Data Processing were worth $7,357,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Accredited Investors Inc. grew its position in shares of Automatic Data Processing by 4,431.5% in the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after acquiring an additional 2,264,202 shares during the period. Raymond James Financial Inc. bought a new position in shares of Automatic Data Processing in the 4th quarter valued at about $342,942,000. Proficio Capital Partners LLC grew its position in shares of Automatic Data Processing by 41,710.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after acquiring an additional 1,087,814 shares during the period. Holocene Advisors LP bought a new position in shares of Automatic Data Processing in the 3rd quarter valued at about $160,920,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock valued at $172,497,000 after acquiring an additional 479,145 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David Foskett sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $306.45 on Friday. The firm has a 50 day moving average of $302.08 and a 200-day moving average of $293.55. The stock has a market capitalization of $124.87 billion, a PE ratio of 31.96, a PEG ratio of 3.62 and a beta of 0.79. 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.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is presently 64.23%.

Analyst Upgrades and Downgrades

Several analysts recently commented on ADP shares. Barclays lifted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, UBS Group lifted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $296.18.

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.