Fayerweather Charles buys $2.7 Million stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Fayerweather Charles scooped up 3,445 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 27, 2016. The investment management firm now holds a total of 31,190 shares of Automatic Data Processing which is valued at $2.7 Million.Automatic Data Processing makes up approximately 3.83% of Fayerweather Charles’s portfolio.

Other Hedge Funds, Including , Elefante Mark B boosted its stake in ADP in the latest quarter, The investment management firm added 900 additional shares and now holds a total of 3,780 shares of Automatic Data Processing which is valued at $332,791. Automatic Data Processing makes up approx 5.29% of Elefante Mark B’s portfolio.Euclid Advisors reduced its stake in ADP by selling 32,781 shares or 54.31% in the most recent quarter. The Hedge Fund company now holds 27,581 shares of ADP which is valued at $2.4 Million. Automatic Data Processing makes up approx 0.09% of Euclid Advisors’s portfolio.Piedmont Investment Advisors boosted its stake in ADP in the latest quarter, The investment management firm added 1,618 additional shares and now holds a total of 106,647 shares of Automatic Data Processing which is valued at $9.1 Million. Automatic Data Processing makes up approx 0.19% of Piedmont Investment Advisors’s portfolio.Carnick Kubik boosted its stake in ADP in the latest quarter, The investment management firm added 225 additional shares and now holds a total of 7,280 shares of Automatic Data Processing which is valued at $624,333. Automatic Data Processing makes up approx 0.31% of Carnick Kubik’s portfolio.

Automatic Data Processing closed down -0.82 points or -0.94% at $86.87 with 24,80,957 shares getting traded on Tuesday. Post opening the session at $87.7, the shares hit an intraday low of $86.79 and an intraday high of $87.97 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

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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