Blb&b Advisors buys $3,957,362 stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Blb&b Advisors scooped up 300 additional shares in Automatic Data Processing during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 17, 2016. The investment management firm now holds a total of 45,196 shares of Automatic Data Processing which is valued at $3,957,362.Automatic Data Processing makes up approximately 0.74% of Blb&b Advisors’s portfolio.

Other Hedge Funds, Including , Eastern Bank reduced its stake in ADP by selling 42 shares or 0.64% in the most recent quarter. The Hedge Fund company now holds 6,509 shares of ADP which is valued at $569,928. Automatic Data Processing makes up approx 0.05% of Eastern Bank’s portfolio.National Pension Service boosted its stake in ADP in the latest quarter, The investment management firm added 25,027 additional shares and now holds a total of 313,407 shares of Automatic Data Processing which is valued at $27,441,917. Automatic Data Processing makes up approx 0.22% of National Pension Service’s portfolio.Webster Bank N. A. reduced its stake in ADP by selling 1,560 shares or 8.63% in the most recent quarter. The Hedge Fund company now holds 16,516 shares of ADP which is valued at $1,446,141. Automatic Data Processing makes up approx 0.21% of Webster Bank N. A.’s portfolio.Investment Management Of Virginia reduced its stake in ADP by selling 215 shares or 0.8% in the most recent quarter. The Hedge Fund company now holds 26,560 shares of ADP which is valued at $2,307,798. Automatic Data Processing makes up approx 0.58% of Investment Management Of Virginia’s portfolio.Carroll Financial Associates reduced its stake in ADP by selling 967 shares or 4.2% in the most recent quarter. The Hedge Fund company now holds 22,074 shares of ADP which is valued at $1,937,435. Automatic Data Processing makes up approx 0.29% of Carroll Financial Associates’s portfolio.

Automatic Data Processing opened for trading at $87.32 and hit $88.05 on the upside on Friday, eventually ending the session at $87.56, with a gain of 0.77% or 0.67 points. The heightened volatility saw the trading volume jump to 13,81,436 shares. Company has a market cap of $39,943 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. Wedbush Initiated Automatic Data Processing on Sep 9, 2016 to “Neutral”, Price Target of the shares are set at $11.Robert W. Baird Downgraded Automatic Data Processing on Jul 29, 2016 to ” Neutral”, Price Target of the shares are set at $94.

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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