Clean Yield Group Lowers stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Clean Yield Group reduced its stake in Automatic Data Processing by 0.84% during the most recent quarter end. The investment management company now holds a total of 57,904 shares of Automatic Data Processing which is valued at $5,220,046 after selling 490 shares in Automatic Data Processing , the firm said in a disclosure report filed with the SEC on Apr 15, 2016.Automatic Data Processing makes up approximately 2.32% of Clean Yield Group’s portfolio.

Automatic Data Processing closed down -0.77 points or -0.85% at $89.35 with 15,38,920 shares getting traded on Wednesday. Post opening the session at $90.62, the shares hit an intraday low of $89.2303 and an intraday high of $90.71 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Heritage Investors Management Corp reduced its stake in ADP by selling 1,060 shares or 0.78% in the most recent quarter. The Hedge Fund company now holds 134,920 shares of ADP which is valued at $12,163,038. Automatic Data Processing makes up approx 0.92% of Heritage Investors Management Corp’s portfolio.Dnb Asset Management As boosted its stake in ADP in the latest quarter, The investment management firm added 11,300 additional shares and now holds a total of 38,354 shares of Automatic Data Processing which is valued at $3,457,613. Automatic Data Processing makes up approx 0.07% of Dnb Asset Management As’s portfolio.First Premier Bank boosted its stake in ADP in the latest quarter, The investment management firm added 1,193 additional shares and now holds a total of 38,675 shares of Automatic Data Processing which is valued at $3,469,534. Automatic Data Processing makes up approx 2.79% of First Premier Bank’s portfolio.Abner Herrman Brock boosted its stake in ADP in the latest quarter, The investment management firm added 56,039 additional shares and now holds a total of 100,826 shares of Automatic Data Processing which is valued at $9,045,100. Automatic Data Processing makes up approx 2.29% of Abner Herrman Brock’s portfolio.

On the company’s financial health, Automatic Data Processing reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 3, 2016. Analyst had a consensus of $0.72. The company had revenue of $2807.00 million for the quarter, compared to analysts expectations of $2817.18 million. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS.

Many Wall Street Analysts have commented on Automatic Data Processing. Compass Point Initiated Automatic Data Processing on Apr 15, 2016 to “Sell”, Price Target of the shares are set at $76.Shares were Reiterated by RBC Capital Mkts on Feb 4, 2016 to “Sector Perform” and Lowered the Price Target to $ 87 from a previous price target of $88 .

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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