Automatic Data Processing (ADP) : Evercore Wealth Management reduced its stake in Automatic Data Processing by 1.5% during the most recent quarter end. The investment management company now holds a total of 126,495 shares of Automatic Data Processing which is valued at $11,155,594 after selling 1,932 shares in Automatic Data Processing , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Automatic Data Processing makes up approximately 0.48% of Evercore Wealth Management’s portfolio.
Other Hedge Funds, Including , Aberdeen Asset Management Plcuk reduced its stake in ADP by selling 1,352 shares or 1.36% in the most recent quarter. The Hedge Fund company now holds 97,787 shares of ADP which is valued at $8,623,836. Automatic Data Processing makes up approx 0.03% of Aberdeen Asset Management Plcuk’s portfolio.Chemung Canal Trust Co reduced its stake in ADP by selling 1,132 shares or 6.56% in the most recent quarter. The Hedge Fund company now holds 16,119 shares of ADP which is valued at $1,433,785. Automatic Data Processing makes up approx 0.33% of Chemung Canal Trust Co’s portfolio.Meyer Handelman Co reduced its stake in ADP by selling 2,100 shares or 1.84% in the most recent quarter. The Hedge Fund company now holds 112,334 shares of ADP which is valued at $10,721,157. Automatic Data Processing makes up approx 0.47% of Meyer Handelman Co’s portfolio.Creative Planning boosted its stake in ADP in the latest quarter, The investment management firm added 1,993 additional shares and now holds a total of 32,808 shares of Automatic Data Processing which is valued at $3,121,353. Automatic Data Processing makes up approx 0.02% of Creative Planning’s portfolio.
Automatic Data Processing opened for trading at $88.11 and hit $88.66 on the upside on Thursday, eventually ending the session at $88.41, with a gain of 0.25% or 0.22 points. The heightened volatility saw the trading volume jump to 14,84,048 shares. Company has a market cap of $40,274 M.
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. 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.