Stock Yards Bank Trust Co Lowers stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Stock Yards Bank Trust Co reduced its stake in Automatic Data Processing by 1.35% during the most recent quarter end. The investment management company now holds a total of 12,459 shares of Automatic Data Processing which is valued at $1,090,910 after selling 170 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 0.15% of Stock Yards Bank 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.Weaver C. Barksdale Associates boosted its stake in ADP in the latest quarter, The investment management firm added 248 additional shares and now holds a total of 9,916 shares of Automatic Data Processing which is valued at $853,668. Automatic Data Processing makes up approx 1.46% of Weaver C. Barksdale Associates’s portfolio.Hudson Valley Investment Advisors Inc Adv boosted its stake in ADP in the latest quarter, The investment management firm added 250 additional shares and now holds a total of 31,517 shares of Automatic Data Processing which is valued at $2,766,247. Automatic Data Processing makes up approx 0.85% of Hudson Valley Investment Advisors Inc Adv’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in ADP by selling 1,437 shares or 1.22% in the most recent quarter. The Hedge Fund company now holds 116,478 shares of ADP which is valued at $10,176,683. Automatic Data Processing makes up approx 0.21% of Exxonmobil Investment Management Inc Tx’s portfolio.Curbstone Financial Management Corp boosted its stake in ADP in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 5,748 shares of Automatic Data Processing which is valued at $503,410. Automatic Data Processing makes up approx 0.16% of Curbstone Financial Management Corp’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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