Automatic Data Processing (ADP) : Mcqueen Ball Associates 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 18, 2016. The investment management firm now holds a total of 24,406 shares of Automatic Data Processing which is valued at $2,187,998.Automatic Data Processing makes up approximately 1.55% of Mcqueen Ball Associates’s portfolio.
Automatic Data Processing opened for trading at $89.11 and hit $89.81 on the upside on Friday, eventually ending the session at $89.65, with a gain of 0.34% or 0.3 points. The heightened volatility saw the trading volume jump to 14,13,760 shares. Company has a market cap of $41,010 M.
Other Hedge Funds, Including , Fisher Asset Management sold out all of its stake in ADP during the most recent quarter. The investment firm sold 3,605 shares of ADP which is valued $323,188.Mitchell Sinkler Starrpa reduced its stake in ADP by selling 200 shares or 1.83% in the most recent quarter. The Hedge Fund company now holds 10,752 shares of ADP which is valued at $969,293. Automatic Data Processing makes up approx 1.32% of Mitchell Sinkler Starrpa’s portfolio.Taylor Wealth Management Partners boosted its stake in ADP in the latest quarter, The investment management firm added 850 additional shares and now holds a total of 1,490 shares of Automatic Data Processing which is valued at $134,324. Automatic Data Processing makes up approx 0.06% of Taylor Wealth Management Partners’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in ADP in the latest quarter, The investment management firm added 8,002 additional shares and now holds a total of 111,378 shares of Automatic Data Processing which is valued at $10,040,727. Automatic Data Processing makes up approx 0.23% of Exxonmobil Investment Management Inc Tx’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.