Marble Harbor Investment Counsel Lowers stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Marble Harbor Investment Counsel reduced its stake in Automatic Data Processing by 3.62% during the most recent quarter end. The investment management company now holds a total of 156,598 shares of Automatic Data Processing which is valued at $14,156,459 after selling 5,888 shares in Automatic Data Processing , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Automatic Data Processing makes up approximately 3.40% of Marble Harbor Investment Counsel’s portfolio.

Other Hedge Funds, Including , Hemenway Trust Co boosted its stake in ADP in the latest quarter, The investment management firm added 2,210 additional shares and now holds a total of 147,365 shares of Automatic Data Processing which is valued at $13,321,796. Automatic Data Processing makes up approx 3.37% of Hemenway Trust Co’s portfolio. Ipswich Investment Management sold out all of its stake in ADP during the most recent quarter. The investment firm sold 1,680 shares of ADP which is valued $148,159.Bank Of Hawaii reduced its stake in ADP by selling 4,436 shares or 15.02% in the most recent quarter. The Hedge Fund company now holds 25,090 shares of ADP which is valued at $2,212,687. Automatic Data Processing makes up approx 0.23% of Bank Of Hawaii’s portfolio. Coyle Financial Counsel added ADP to its portfolio by purchasing 2,355 company shares during the most recent quarter which is valued at $223,560. Automatic Data Processing makes up approx 0.31% of Coyle Financial Counsel’s portfolio.

Automatic Data Processing opened for trading at $90.48 and hit $90.66 on the upside on Monday, eventually ending the session at $90.35, with a gain of 0.24% or 0.22 points. The heightened volatility saw the trading volume jump to 9,19,296 shares. Company has a market cap of $41,216 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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