Sarasin Partners Llp Lowers stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Sarasin Partners Llp reduced its stake in Automatic Data Processing by 3.21% during the most recent quarter end. The investment management company now holds a total of 462,133 shares of Automatic Data Processing which is valued at $40,464,365 after selling 15,321 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 0.65% of Sarasin Partners Llp’s portfolio.

Other Hedge Funds, Including , 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.Private Trust Co Na reduced its stake in ADP by selling 325 shares or 3.74% in the most recent quarter. The Hedge Fund company now holds 8,367 shares of ADP which is valued at $727,009. Automatic Data Processing makes up approx 0.18% of Private Trust Co Na’s portfolio.Legal General Group Plc reduced its stake in ADP by selling 2,880 shares or 0.12% in the most recent quarter. The Hedge Fund company now holds 2,351,700 shares of ADP which is valued at $202,457,853. Automatic Data Processing makes up approx 0.21% of Legal General Group Plc’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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