Coastline Trust Co buys $6,541,284 stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Coastline Trust Co scooped up 295 additional shares in Automatic Data Processing during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 15, 2016. The investment management firm now holds a total of 72,560 shares of Automatic Data Processing which is valued at $6,541,284.Automatic Data Processing makes up approximately 1.38% of Coastline Trust Co’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 , Highland Capital Management reduced its stake in ADP by selling 921 shares or 2.97% in the most recent quarter. The Hedge Fund company now holds 30,120 shares of ADP which is valued at $2,715,318. Automatic Data Processing makes up approx 0.23% of Highland Capital Management’s portfolio.Capital Investment Advisors reduced its stake in ADP by selling 2,687 shares or 40.09% in the most recent quarter. The Hedge Fund company now holds 4,015 shares of ADP which is valued at $361,952. Automatic Data Processing makes up approx 0.04% of Capital Investment Advisors’s portfolio.Kanaly Trust Co reduced its stake in ADP by selling 120 shares or 51.95% in the most recent quarter. The Hedge Fund company now holds 111 shares of ADP which is valued at $10,007.Bath Savings Trust Co boosted its stake in ADP in the latest quarter, The investment management firm added 8,215 additional shares and now holds a total of 72,197 shares of Automatic Data Processing which is valued at $6,508,560. Automatic Data Processing makes up approx 2.08% of Bath Savings Trust Co’s portfolio.Central Bank Trust Co boosted its stake in ADP in the latest quarter, The investment management firm added 115 additional shares and now holds a total of 982 shares of Automatic Data Processing which is valued at $88,527. Automatic Data Processing makes up approx 0.02% of Central Bank Trust Co’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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