Fayez Sarofim Co Lowers stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Fayez Sarofim Co reduced its stake in Automatic Data Processing by 3.41% during the most recent quarter end. The investment management company now holds a total of 1,262,804 shares of Automatic Data Processing which is valued at $113,816,525 after selling 44,527 shares in Automatic Data Processing , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Automatic Data Processing makes up approximately 0.61% of Fayez Sarofim Co’s portfolio.

Other Hedge Funds, Including , Blackrock Institutional Trust Company N.a. reduced its stake in ADP by selling 49,921 shares or 0.39% in the most recent quarter. The Hedge Fund company now holds 12,713,262 shares of ADP which is valued at $1,145,846,304. Automatic Data Processing makes up approx 0.18% of Blackrock Institutional Trust Company N.a.’s portfolio.Northeast Investment Management boosted its stake in ADP in the latest quarter, The investment management firm added 8 additional shares and now holds a total of 10,990 shares of Automatic Data Processing which is valued at $969,208. Automatic Data Processing makes up approx 0.10% of Northeast Investment Management’s portfolio. St. James Investment Company added ADP to its portfolio by purchasing 5,250 company shares during the most recent quarter which is valued at $462,998. Automatic Data Processing makes up approx 0.06% of St. James Investment Company’s portfolio.Home Federal Bank Of Tennessee reduced its stake in ADP by selling 50 shares or 0.37% in the most recent quarter. The Hedge Fund company now holds 13,595 shares of ADP which is valued at $1,290,573. Automatic Data Processing makes up approx 0.76% of Home Federal Bank Of Tennessee’s portfolio.Meristem Llp reduced its stake in ADP by selling 979 shares or 21.95% in the most recent quarter. The Hedge Fund company now holds 3,482 shares of ADP which is valued at $332,322. Automatic Data Processing makes up approx 0.14% of Meristem Llp’s portfolio.

Automatic Data Processing opened for trading at $89.52 and hit $89.97 on the upside on Friday, eventually ending the session at $89.85, with a gain of 0.02% or 0.02 points. The heightened volatility saw the trading volume jump to 14,36,610 shares. Company has a market cap of $40,987 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.

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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