Charter Trust Co Lowers stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Charter Trust Co reduced its stake in Automatic Data Processing by 1.52% during the most recent quarter end. The investment management company now holds a total of 74,539 shares of Automatic Data Processing which is valued at $6,526,635 after selling 1,149 shares in Automatic Data Processing , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Automatic Data Processing makes up approximately 0.75% of Charter Trust Co’s portfolio.

Other Hedge Funds, Including , 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.British Columbia Investment Management Corp reduced its stake in ADP by selling 73,151 shares or 26.05% in the most recent quarter. The Hedge Fund company now holds 207,659 shares of ADP which is valued at $17,877,363. Automatic Data Processing makes up approx 0.18% of British Columbia Investment Management Corp’s portfolio.Canandaigua National Bank Trust Co boosted its stake in ADP in the latest quarter, The investment management firm added 899 additional shares and now holds a total of 7,064 shares of Automatic Data Processing which is valued at $608,140. Automatic Data Processing makes up approx 0.18% of Canandaigua National Bank Trust Co’s portfolio.Chicago Trust Co Na reduced its stake in ADP by selling 2,273 shares or 12.6% in the most recent quarter. The Hedge Fund company now holds 15,771 shares of ADP which is valued at $1,357,725. Automatic Data Processing makes up approx 0.63% of Chicago Trust Co Na’s portfolio.Jacobs Coca reduced its stake in ADP by selling 48 shares or 0.15% in the most recent quarter. The Hedge Fund company now holds 32,094 shares of ADP which is valued at $2,816,890. Automatic Data Processing makes up approx 0.63% of Jacobs Coca’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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