Fairview Capital Investment Management LLC Has $734,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Fairview Capital Investment Management LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,507 shares of the business services provider’s stock after acquiring an additional 62 shares during the period. Fairview Capital Investment Management LLC’s holdings in Automatic Data Processing were worth $734,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of Automatic Data Processing by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider’s stock worth $146,581,000 after acquiring an additional 22,766 shares in the last quarter. Douglas Lane & Associates LLC raised its holdings in shares of Automatic Data Processing by 6.0% in the fourth quarter. Douglas Lane & Associates LLC now owns 5,775 shares of the business services provider’s stock valued at $1,691,000 after purchasing an additional 329 shares during the last quarter. First Hawaiian Bank boosted its stake in shares of Automatic Data Processing by 21.4% in the 4th quarter. First Hawaiian Bank now owns 6,033 shares of the business services provider’s stock worth $1,766,000 after buying an additional 1,063 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Automatic Data Processing by 1.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 228,973 shares of the business services provider’s stock valued at $63,363,000 after purchasing an additional 2,203 shares during the period. Finally, ST Germain D J Co. Inc. raised its position in Automatic Data Processing by 18.5% in the fourth quarter. ST Germain D J Co. Inc. now owns 13,791 shares of the business services provider’s stock worth $4,037,000 after acquiring an additional 2,149 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of recent research reports. Barclays increased their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. TD Securities boosted their target price on Automatic Data Processing from $296.00 to $298.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $303.55.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the sale, the vice president now owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. The trade was a 11.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the transaction, the vice president now owns 7,364 shares in the company, valued at approximately $2,158,682.96. This trade represents a 6.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,451 shares of company stock valued at $743,024 in the last ninety days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 0.6 %

ADP opened at $307.09 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a market cap of $124.65 billion, a PE ratio of 32.02, a P/E/G ratio of 3.62 and a beta of 0.76. The business has a 50 day moving average price of $297.45 and a two-hundred day moving average price of $299.06. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share 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 company’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the company posted $2.88 EPS. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. Automatic Data Processing’s dividend payout ratio is currently 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.