Fairview Capital Investment Management LLC held its position in Automatic Data Processing (NYSE:ADP) during the second quarter, Holdings Channel reports. The firm owned 12,091 shares of the company’s stock at the end of the second quarter. Fairview Capital Investment Management LLC’s holdings in Automatic Data Processing were worth $1,111,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank increased its stake in Automatic Data Processing by 3.7% in the second quarter. Swiss National Bank now owns 2,180,085 shares of the company’s stock valued at $200,284,000 after buying an additional 77,200 shares during the period. First Eagle Investment Management LLC increased its stake in Automatic Data Processing by 0.3% in the second quarter. First Eagle Investment Management LLC now owns 1,959,459 shares of the company’s stock valued at $180,015,000 after buying an additional 5,070 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Automatic Data Processing by 1.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,441,270 shares of the company’s stock valued at $132,409,000 after buying an additional 14,289 shares during the period. Coho Partners Ltd. increased its stake in Automatic Data Processing by 45.8% in the second quarter. Coho Partners Ltd. now owns 1,270,547 shares of the company’s stock valued at $116,725,000 after buying an additional 399,300 shares during the period. Finally, Schroder Investment Management Group increased its stake in Automatic Data Processing by 20.2% in the second quarter. Schroder Investment Management Group now owns 897,118 shares of the company’s stock valued at $82,418,000 after buying an additional 150,781 shares during the period.

Shares of Automatic Data Processing (NYSE:ADP) traded up 0.87% during trading on Thursday, hitting $89.65. 219,885 shares of the company were exchanged. The company’s 50-day moving average price is $89.12 and its 200 day moving average price is $89.31. The stock has a market cap of $40.90 billion and a P/E ratio of 27.60. Automatic Data Processing has a 12 month low of $76.65 and a 12 month high of $96.00.

Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.94 billion. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS. On average, equities analysts predict that Automatic Data Processing will post $3.60 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, September 7th.

Several research firms recently weighed in on ADP. Wedbush began coverage on shares of Automatic Data Processing in a report on Thursday, September 8th. They issued a “neutral” rating and a $100.00 target price for the company. Jefferies Group boosted their price target on shares of Automatic Data Processing from $75.00 to $81.00 and gave the stock an “underperform” rating in a research note on Monday, August 1st. JPMorgan Chase & Co. restated a “hold” rating and issued a $93.00 price target on shares of Automatic Data Processing in a research note on Friday, July 29th. Citigroup Inc. restated a “neutral” rating and issued a $90.00 price target (up previously from $89.00) on shares of Automatic Data Processing in a research note on Friday, July 29th. Finally, Robert W. Baird downgraded shares of Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $94.00 price target for the company. in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $95.14.

In related news, CEO Carlos A. Rodriguez sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $89.91, for a total transaction of $899,100.00. Following the transaction, the chief executive officer now owns 119,877 shares of the company’s stock, valued at $10,778,141.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Carlos A. Rodriguez sold 67,064 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $95.00, for a total transaction of $6,371,080.00. Following the transaction, the chief executive officer now directly owns 166,627 shares in the company, valued at approximately $15,829,565. The disclosure for this sale can be found here.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions and business process outsourcing. The Company operates through two segments: Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled HCM solutions.

5 Day Chart for NYSE:ADP

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