Wilkins Investment Counsel Inc Lowers stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Wilkins Investment Counsel Inc 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 86,131 shares of Automatic Data Processing which is valued at $7,762,987 after selling 800 shares in Automatic Data Processing , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Automatic Data Processing makes up approximately 2.09% of Wilkins Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Cambridge Investment Research Advisors sold out all of its stake in ADP during the most recent quarter. The investment firm sold 25,037 shares of ADP which is valued $2,245,068.Ballentine Partners reduced its stake in ADP by selling 1,066 shares or 14.83% in the most recent quarter. The Hedge Fund company now holds 6,120 shares of ADP which is valued at $539,723. Automatic Data Processing makes up approx 0.04% of Ballentine Partners’s portfolio.Carnegie Capital Asset Management reduced its stake in ADP by selling 483 shares or 4.53% in the most recent quarter. The Hedge Fund company now holds 10,172 shares of ADP which is valued at $897,069. Automatic Data Processing makes up approx 0.13% of Carnegie Capital Asset Management’s portfolio.Yhb Investment Advisors reduced its stake in ADP by selling 8 shares or 0.11% in the most recent quarter. The Hedge Fund company now holds 7,089 shares of ADP which is valued at $676,574. Automatic Data Processing makes up approx 0.14% of Yhb Investment Advisors’s portfolio.

Automatic Data Processing opened for trading at $89.52 and hit $89.97 on the upside on Friday, eventually ending the session at $89.85, with a gain of 0.02% or 0.02 points. The heightened volatility saw the trading volume jump to 14,36,610 shares. Company has a market cap of $40,987 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.

Investors should note that on Aug 2, 2016, Automatic Data Processing announced a cash dividend of $0.5300. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Oct 1, 2016.

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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