Northstar Group Lowers stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Northstar Group reduced its stake in Automatic Data Processing by 0.69% during the most recent quarter end. The investment management company now holds a total of 17,666 shares of Automatic Data Processing which is valued at $1,680,743 after selling 122 shares in Automatic Data Processing , the firm said in a disclosure report filed with the SEC on Jul 12, 2016.Automatic Data Processing makes up approximately 1.23% of Northstar Group’s portfolio.

Other Hedge Funds, Including , Fisher Asset Management added ADP to its portfolio by purchasing 2,195 company shares during the most recent quarter which is valued at $208,832.Edge Wealth Management boosted its stake in ADP in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 350 shares of Automatic Data Processing which is valued at $33,065. Automatic Data Processing makes up approx 0.01% of Edge Wealth Management’s portfolio.Alpha Windward reduced its stake in ADP by selling 36 shares or 1.4% in the most recent quarter. The Hedge Fund company now holds 2,539 shares of ADP which is valued at $239,859. Automatic Data Processing makes up approx 0.17% of Alpha Windward’s portfolio.

Automatic Data Processing closed down -0.15 points or -0.16% at $95.06 with 13,56,035 shares getting traded on Friday. Post opening the session at $95.7, the shares hit an intraday low of $94.93 and an intraday high of $95.77 and the price fluctuated in this range throughout the day.Shares ended Friday 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 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 .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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