Osborne Partners Capital Management Lowers stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Osborne Partners Capital Management reduced its stake in Automatic Data Processing by 1.12% during the most recent quarter end. The investment management company now holds a total of 119,110 shares of Automatic Data Processing which is valued at $11,361,903 after selling 1,350 shares in Automatic Data Processing , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Automatic Data Processing makes up approximately 1.64% of Osborne Partners Capital Management’s portfolio.

Other Hedge Funds, Including , Brookstone Capital Management boosted its stake in ADP in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 2,392 shares of Automatic Data Processing which is valued at $228,173. Automatic Data Processing makes up approx 0.03% of Brookstone Capital Management’s portfolio.Wendell David Associates Inc boosted its stake in ADP in the latest quarter, The investment management firm added 1,225 additional shares and now holds a total of 257,481 shares of Automatic Data Processing which is valued at $24,561,113. Automatic Data Processing makes up approx 4.70% of Wendell David Associates Inc’s portfolio.Renaissance Investment Group boosted its stake in ADP in the latest quarter, The investment management firm added 331 additional shares and now holds a total of 59,887 shares of Automatic Data Processing which is valued at $5,685,073. Automatic Data Processing makes up approx 2.72% of Renaissance Investment Group’s portfolio.Community Bank N.a. reduced its stake in ADP by selling 200 shares or 0.94% in the most recent quarter. The Hedge Fund company now holds 21,096 shares of ADP which is valued at $2,002,643. Automatic Data Processing makes up approx 0.46% of Community Bank N.a.’s portfolio.Creative Planning boosted its stake in ADP in the latest quarter, The investment management firm added 1,993 additional shares and now holds a total of 32,808 shares of Automatic Data Processing which is valued at $3,121,353. Automatic Data Processing makes up approx 0.02% of Creative Planning’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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