Barrett Asset Management Lowers stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Barrett Asset Management reduced its stake in Automatic Data Processing by 0.92% during the most recent quarter end. The investment management company now holds a total of 288,412 shares of Automatic Data Processing which is valued at $27,511,621 after selling 2,670 shares in Automatic Data Processing , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.Automatic Data Processing makes up approximately 2.30% of Barrett Asset Management’s portfolio.

Other Hedge Funds, Including , Regentatlantic Capital reduced its stake in ADP by selling 80 shares or 0.68% in the most recent quarter. The Hedge Fund company now holds 11,660 shares of ADP which is valued at $1,112,247. Automatic Data Processing makes up approx 0.10% of Regentatlantic Capital’s portfolio.Physicians Financial Services reduced its stake in ADP by selling 97 shares or 0.55% in the most recent quarter. The Hedge Fund company now holds 17,687 shares of ADP which is valued at $1,679,027. Automatic Data Processing makes up approx 1.43% of Physicians Financial Services’s portfolio.Davenport Co reduced its stake in ADP by selling 309 shares or 1.57% in the most recent quarter. The Hedge Fund company now holds 19,348 shares of ADP which is valued at $1,840,769. Automatic Data Processing makes up approx 0.03% of Davenport Co’s portfolio.Dnb Asset Management As reduced its stake in ADP by selling 400 shares or 1.04% in the most recent quarter. The Hedge Fund company now holds 37,954 shares of ADP which is valued at $3,585,514. Automatic Data Processing makes up approx 0.07% of Dnb Asset Management As’s portfolio.

Automatic Data Processing opened for trading at $95.56 and hit $95.64 on the upside on Wednesday, eventually ending the session at $95.39, with a gain of 0.39% or 0.37 points. The heightened volatility saw the trading volume jump to 10,90,135 shares. Company has a market cap of $43,453 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 Upgraded by Bernstein on Jul 11, 2016 to ” Outperform”, Firm has raised the Price Target to $ 110 from a previous price target of $97 .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 .

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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