Fairfield Financial Advisors LTD Purchases Shares of 25,931 Automatic Data Processing, Inc. (NASDAQ:ADP)

Fairfield Financial Advisors LTD acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,931 shares of the business services provider’s stock, valued at approximately $6,189,000. Automatic Data Processing makes up about 2.2% of Fairfield Financial Advisors LTD’s investment portfolio, making the stock its 14th biggest position.

Other large investors also recently made changes to their positions in the company. Schmidt P J Investment Management Inc. grew its holdings in shares of Automatic Data Processing by 0.4% in the second quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after purchasing an additional 40 shares during the last quarter. Confluence Wealth Services Inc. increased its position in shares of Automatic Data Processing by 5.0% in the second quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock valued at $206,000 after acquiring an additional 41 shares during the period. Prestige Wealth Management Group LLC raised its stake in shares of Automatic Data Processing by 0.8% during the first quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock valued at $1,402,000 after acquiring an additional 43 shares during the last quarter. Patron Partners LLC boosted its holdings in shares of Automatic Data Processing by 1.6% during the first quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock worth $683,000 after purchasing an additional 44 shares during the period. Finally, Checchi Capital Advisers LLC grew its stake in shares of Automatic Data Processing by 0.8% in the second quarter. Checchi Capital Advisers LLC now owns 5,432 shares of the business services provider’s stock worth $1,297,000 after purchasing an additional 45 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $277.51 on Monday. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $279.58. The company has a market cap of $113.17 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 3.02 and a beta of 0.79. The firm’s fifty day moving average is $260.52 and its 200 day moving average is $250.53. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the business earned $1.89 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 2.02%. Automatic Data Processing’s payout ratio is 62.50%.

Insider Buying and Selling

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. The disclosure for this sale can be found here. In the last three months, insiders sold 58,817 shares of company stock valued at $15,999,208. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Bank of America lifted their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Finally, Stifel Nicolaus raised their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $265.36.

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.