Puzo Michael J buys $5.5 Million stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Puzo Michael J scooped up 3,840 additional shares in Automatic Data Processing during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 27, 2016. The investment management firm now holds a total of 61,980 shares of Automatic Data Processing which is valued at $5.5 Million.Automatic Data Processing makes up approximately 3.62% of Puzo Michael J’s portfolio.

Other Hedge Funds, Including , Kidder Stephen W boosted its stake in ADP in the latest quarter, The investment management firm added 2,473 additional shares and now holds a total of 100,802 shares of Automatic Data Processing which is valued at $8.9 Million. Automatic Data Processing makes up approx 3.58% of Kidder Stephen W’s portfolio.Greenwood Capital Associates reduced its stake in ADP by selling 2,369 shares or 5.49% in the most recent quarter. The Hedge Fund company now holds 40,805 shares of ADP which is valued at $3.5 Million. Automatic Data Processing makes up approx 1.10% of Greenwood Capital Associates’s portfolio.Pictet Asset Management Ltd boosted its stake in ADP in the latest quarter, The investment management firm added 2,700 additional shares and now holds a total of 244,681 shares of Automatic Data Processing which is valued at $21 Million. Automatic Data Processing makes up approx 0.09% of Pictet Asset Management Ltd’s portfolio.

Automatic Data Processing closed down -0.82 points or -0.94% at $86.87 with 24,80,957 shares getting traded on Tuesday. Post opening the session at $87.7, the shares hit an intraday low of $86.79 and an intraday high of $87.97 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 $1.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $1.18. The company had revenue of $3248.60 million for the quarter, compared to analysts expectations of $3272.98 million. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS.

Many Wall Street Analysts have commented on Automatic Data Processing. Company shares were Reiterated by RBC Capital Mkts on May 2, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 90 from a previous price target of $87 .Compass Point Initiated Automatic Data Processing on Apr 15, 2016 to “Sell”, Price Target of the shares are set at $76.

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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