Dillon Associates Inc Lowers stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Dillon Associates Inc reduced its stake in Automatic Data Processing by 1.82% during the most recent quarter end. The investment management company now holds a total of 97,605 shares of Automatic Data Processing which is valued at $8,476,994 after selling 1,814 shares in Automatic Data Processing , the firm said in a disclosure report filed with the SEC on May 3, 2016.Automatic Data Processing makes up approximately 3.98% of Dillon Associates Inc’s portfolio.

Other Hedge Funds, Including , Marble Harbor Investment Counsel boosted its stake in ADP in the latest quarter, The investment management firm added 1,500 additional shares and now holds a total of 162,486 shares of Automatic Data Processing which is valued at $14,111,909. Automatic Data Processing makes up approx 3.56% of Marble Harbor Investment Counsel’s portfolio.Dt Investment Partners boosted its stake in ADP in the latest quarter, The investment management firm added 134 additional shares and now holds a total of 3,962 shares of Automatic Data Processing which is valued at $344,100. Automatic Data Processing makes up approx 0.10% of Dt Investment Partners’s portfolio.Public Employees Retirement Association Of Colorado boosted its stake in ADP in the latest quarter, The investment management firm added 3,696 additional shares and now holds a total of 101,867 shares of Automatic Data Processing which is valued at $9,009,117. Automatic Data Processing makes up approx 0.07% of Public Employees Retirement Association Of Colorado’s portfolio. Stonehearth Capital Management sold out all of its stake in ADP during the most recent quarter. The investment firm sold 2,393 shares of ADP which is valued $211,637.Sheaff Brock Investment Advisors reduced its stake in ADP by selling 4,784 shares or 51.03% in the most recent quarter. The Hedge Fund company now holds 4,591 shares of ADP which is valued at $406,028. Automatic Data Processing makes up approx 0.05% of Sheaff Brock Investment Advisors’s portfolio.

Automatic Data Processing opened for trading at $87.43 and hit $88.53 on the upside on Tuesday, eventually ending the session at $88.5, with a gain of 1.54% or 1.34 points. The heightened volatility saw the trading volume jump to 41,31,779 shares. Company has a market cap of $40,315 M.

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.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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