Automatic Data Processing (ADP) : Renaissance Investment Group scooped up 175 additional shares in Automatic Data Processing during the most recent quarter end , according to a recent disclosure to the SEC on Apr 1, 2016. The investment management firm now holds a total of 59,556 shares of Automatic Data Processing which is valued at $5.4 Million.Automatic Data Processing makes up approximately 2.69% of Renaissance Investment Group’s portfolio.
Other Hedge Funds, Including , Cacti Asset Management reduced its stake in ADP by selling 4,475 shares or 1.58% in the most recent quarter. The Hedge Fund company now holds 278,055 shares of ADP which is valued at $25.1 Million. Automatic Data Processing makes up approx 2.70% of Cacti Asset Management’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. 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 closed down -0.62 points or -0.69% at $89.71 with 15,61,594 shares getting traded on Monday. Post opening the session at $90.95, the shares hit an intraday low of $89.69 and an intraday high of $90.99 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.