Polen Capital Management buys $393,231,151 stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Polen Capital Management scooped up 450,019 additional shares in Automatic Data Processing during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 4,362,933 shares of Automatic Data Processing which is valued at $393,231,151.Automatic Data Processing makes up approximately 4.69% of Polen Capital Management’s portfolio.

Other Hedge Funds, Including , Dubuque Bank Trust Co boosted its stake in ADP in the latest quarter, The investment management firm added 61 additional shares and now holds a total of 3,604 shares of Automatic Data Processing which is valued at $324,829. Automatic Data Processing makes up approx 0.06% of Dubuque Bank Trust Co’s portfolio.Baird Financial Group boosted its stake in ADP in the latest quarter, The investment management firm added 2,632 additional shares and now holds a total of 312,756 shares of Automatic Data Processing which is valued at $28,188,698. Automatic Data Processing makes up approx 0.25% of Baird Financial Group’s portfolio.Public Sector Pension Investment Board boosted its stake in ADP in the latest quarter, The investment management firm added 12,100 additional shares and now holds a total of 86,402 shares of Automatic Data Processing which is valued at $7,787,412. Automatic Data Processing makes up approx 0.09% of Public Sector Pension Investment Board’s portfolio.

Automatic Data Processing closed down -0.2 points or -0.22% at $89.59 with 11,08,761 shares getting traded on Monday. Post opening the session at $89.84, the shares hit an intraday low of $89.49 and an intraday high of $90.3 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Automatic Data Processing reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.67. The company had revenue of $2898.20 million for the quarter, compared to analysts expectations of $2934.72 million. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.

Investors should note that on Aug 2, 2016, Automatic Data Processing announced a cash dividend of $0.5300. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Oct 1, 2016.

Many Wall Street Analysts have commented on Automatic Data Processing. Robert W. Baird Downgraded Automatic Data Processing on Jul 29, 2016 to ” Neutral”, Price Target of the shares are set at $94.Company shares were Upgraded by Bernstein on Jul 11, 2016 to ” Outperform”, Firm has raised the Price Target to $ 110 from a previous price target of $97 .

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. These offerings include payroll services benefits administration recruiting and talent management human resources management insurance services retirement services and payment and compliance solutions. The Company’s PEO business ADP TotalSource offers small and mid-sized businesses human resources (HR) outsourcing solution through a co-employment model. ADP TotalSource includes HR management and employee benefits functions including HR administration employee benefits and employer liability management into a single-source solution including HR administration employee benefits and employer liability management.

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