Automatic Data Processing (ADP) : Macnealy Hoover Investment Management Inc reduced its stake in Automatic Data Processing by 1.89% during the most recent quarter end. The investment management company now holds a total of 18,200 shares of Automatic Data Processing which is valued at $1,597,414 after selling 350 shares in Automatic Data Processing , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Automatic Data Processing makes up approximately 0.30% of Macnealy Hoover Investment Management Inc’s portfolio.
Other Hedge Funds, Including , First Financial Bank N.a. – Trust Division boosted its stake in ADP in the latest quarter, The investment management firm added 35 additional shares and now holds a total of 14,497 shares of Automatic Data Processing which is valued at $1,272,402. Automatic Data Processing makes up approx 0.24% of First Financial Bank N.a. – Trust Division’s portfolio.North Star Asset Management Inc reduced its stake in ADP by selling 30 shares or 0.54% in the most recent quarter. The Hedge Fund company now holds 5,506 shares of ADP which is valued at $482,215. Automatic Data Processing makes up approx 0.05% of North Star Asset Management Inc’s portfolio.Ct Mason reduced its stake in ADP by selling 23,462 shares or 50.29% in the most recent quarter. The Hedge Fund company now holds 23,190 shares of ADP which is valued at $2,030,980. Automatic Data Processing makes up approx 0.90% of Ct Mason’s portfolio.
Automatic Data Processing closed down -1.68 points or -1.91% at $86.09 with 19,63,464 shares getting traded on Tuesday. Post opening the session at $87.67, the shares hit an intraday low of $85.72 and an intraday high of $87.67 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.
Many Wall Street Analysts have commented on Automatic Data Processing. Wedbush Initiated Automatic Data Processing on Sep 9, 2016 to “Neutral”, Price Target of the shares are set at $11.Robert W. Baird Downgraded Automatic Data Processing on Jul 29, 2016 to ” Neutral”, Price Target of the shares are set at $94.
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.