Bank Of Hawaii Lowers stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Bank Of Hawaii reduced its stake in Automatic Data Processing by 15.02% during the most recent quarter end. The investment management company now holds a total of 25,090 shares of Automatic Data Processing which is valued at $2,212,687 after selling 4,436 shares in Automatic Data Processing , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Automatic Data Processing makes up approximately 0.23% of Bank Of Hawaii’s portfolio.

Other Hedge Funds, Including , Beese Fulmer Investment Management boosted its stake in ADP in the latest quarter, The investment management firm added 5 additional shares and now holds a total of 10,971 shares of Automatic Data Processing which is valued at $967,532. Automatic Data Processing makes up approx 0.27% of Beese Fulmer Investment Management’s portfolio.Prospera Financial Services Inc boosted its stake in ADP in the latest quarter, The investment management firm added 150 additional shares and now holds a total of 3,586 shares of Automatic Data Processing which is valued at $340,419. Automatic Data Processing makes up approx 0.07% of Prospera Financial Services Inc’s portfolio.Loring Wolcott Coolidge Fiduciary Advisors Llpma reduced its stake in ADP by selling 11,572 shares or 0.77% in the most recent quarter. The Hedge Fund company now holds 1,482,618 shares of ADP which is valued at $141,056,277. Automatic Data Processing makes up approx 3.16% of Loring Wolcott Coolidge Fiduciary Advisors Llpma’s portfolio.Chevy Chase Trust Holdings boosted its stake in ADP in the latest quarter, The investment management firm added 2,333 additional shares and now holds a total of 458,681 shares of Automatic Data Processing which is valued at $43,331,594. Automatic Data Processing makes up approx 0.24% of Chevy Chase Trust Holdings’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 $88.11 and hit $88.66 on the upside on Thursday, eventually ending the session at $88.41, with a gain of 0.25% or 0.22 points. The heightened volatility saw the trading volume jump to 14,84,048 shares. Company has a market cap of $40,274 M.

On the company’s financial health, Automatic Data Processing reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.67. The company had revenue of $2898.20 million for the quarter, compared to analysts expectations of $2934.72 million. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.

Many Wall Street Analysts have commented on Automatic Data Processing. Robert W. Baird Downgraded Automatic Data Processing on Jul 29, 2016 to ” Neutral”, Price Target of the shares are set at $94.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 .

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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