Marble Harbor Investment Counsel buys $14,111,909 stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Marble Harbor Investment Counsel scooped up 1,500 additional shares in Automatic Data Processing during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 162,486 shares of Automatic Data Processing which is valued at $14,111,909.Automatic Data Processing makes up approximately 3.56% of Marble Harbor Investment Counsel’s portfolio.

Other Hedge Funds, Including , Cambridge Investment Research Advisors reduced its stake in ADP by selling 304 shares or 1.2% in the most recent quarter. The Hedge Fund company now holds 25,037 shares of ADP which is valued at $2,174,463. Automatic Data Processing makes up approx 0.05% of Cambridge Investment Research Advisors’s portfolio.Whittier Trust Co reduced its stake in ADP by selling 2,950 shares or 3.91% in the most recent quarter. The Hedge Fund company now holds 72,463 shares of ADP which is valued at $6,408,628. Automatic Data Processing makes up approx 0.28% of Whittier Trust Co’s portfolio.Curian Capital reduced its stake in ADP by selling 44,679 shares or 67.78% in the most recent quarter. The Hedge Fund company now holds 21,237 shares of ADP which is valued at $1,878,200. Automatic Data Processing makes up approx 0.14% of Curian Capital’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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