First Affirmative Financial Network Sells 975 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

First Affirmative Financial Network reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 19.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,021 shares of the business services provider's stock after selling 975 shares during the period. Automatic Data Processing accounts for approximately 0.7% of First Affirmative Financial Network's investment portfolio, making the stock its 26th biggest position. First Affirmative Financial Network's holdings in Automatic Data Processing were worth $1,229,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ADP. Littlejohn Financial Services Inc. bought a new stake in Automatic Data Processing in the 4th quarter valued at $708,000. CIBC Asset Management Inc boosted its position in shares of Automatic Data Processing by 1.8% in the fourth quarter. CIBC Asset Management Inc now owns 155,934 shares of the business services provider's stock valued at $45,647,000 after acquiring an additional 2,787 shares during the period. Toronto Dominion Bank boosted its position in shares of Automatic Data Processing by 10.2% in the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock valued at $69,290,000 after acquiring an additional 21,910 shares during the period. Proficio Capital Partners LLC grew its stake in shares of Automatic Data Processing by 42.8% in the fourth quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider's stock valued at $1,090,000 after acquiring an additional 1,117 shares in the last quarter. Finally, Napatree Capital LLC increased its position in Automatic Data Processing by 2.7% during the fourth quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider's stock worth $936,000 after acquiring an additional 84 shares during the period. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Trading Up 0.2%

Shares of Automatic Data Processing stock opened at $326.81 on Friday. The company has a market capitalization of $132.66 billion, a price-to-earnings ratio of 34.08, a PEG ratio of 3.62 and a beta of 0.76. The company has a quick ratio of 1.00, a current 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 $329.93. The firm's 50-day moving average price is $305.96 and its two-hundred day moving average price is $302.63.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the prior year, the company posted $2.88 earnings per share. The business's revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.88%. Automatic Data Processing's payout ratio is currently 63.05%.

Insider Activity

In related news, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the sale, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. This trade represents a 11.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher D'ambrosio sold 473 shares of Automatic Data Processing stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now owns 7,244 shares in the company, valued at approximately $2,218,112.80. This represents a 6.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,451 shares of company stock worth $743,024. Corporate insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ADP shares. Stifel Nicolaus raised their price target on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. TD Securities raised their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday. Finally, UBS Group raised their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $305.64.

Automatic Data Processing Company Profile

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.

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