Integrated Wealth Management Lowers stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Integrated Wealth Management reduced its stake in Automatic Data Processing by 0.95% during the most recent quarter end. The investment management company now holds a total of 12,368 shares of Automatic Data Processing which is valued at $1,090,734 after selling 118 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 0.41% of Integrated Wealth Management’s portfolio.

Other Hedge Funds, Including , Wheatland Advisors Inc reduced its stake in ADP by selling 400 shares or 2.64% in the most recent quarter. The Hedge Fund company now holds 14,750 shares of ADP which is valued at $1,300,803. Automatic Data Processing makes up approx 0.68% of Wheatland Advisors Inc’s portfolio. Compass Capital Management Inc sold out all of its stake in ADP during the most recent quarter. The investment firm sold 217,662 shares of ADP which is valued $19,361,035.Eliot Finkel Investment Counsel reduced its stake in ADP by selling 3,300 shares or 10.86% in the most recent quarter. The Hedge Fund company now holds 27,100 shares of ADP which is valued at $2,410,545. Automatic Data Processing makes up approx 2.06% of Eliot Finkel Investment Counsel’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in ADP in the latest quarter, The investment management firm added 6,537 additional shares and now holds a total of 117,915 shares of Automatic Data Processing which is valued at $11,139,430. Automatic Data Processing makes up approx 0.23% of Exxonmobil Investment Management Inc Tx’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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