Godshalk Welsh Capital Management buys $1,079,708 stake in Automatic Data Processing (ADP)

Automatic Data Processing (ADP) : Godshalk Welsh Capital Management scooped up 128 additional shares in Automatic Data Processing during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 11,750 shares of Automatic Data Processing which is valued at $1,079,708.Automatic Data Processing makes up approximately 1.12% of Godshalk Welsh Capital Management’s portfolio.

Other Hedge Funds, Including , Millennium Management reduced its stake in ADP by selling 91,420 shares or 32.22% in the most recent quarter. The Hedge Fund company now holds 192,279 shares of ADP which is valued at $17,668,517. Automatic Data Processing makes up approx 0.03% of Millennium Management’s portfolio.Pacer Advisors reduced its stake in ADP by selling 510 shares or 3.5% in the most recent quarter. The Hedge Fund company now holds 14,074 shares of ADP which is valued at $1,286,223. Automatic Data Processing makes up approx 0.20% of Pacer Advisors’s portfolio.Tradewinds Capital Management reduced its stake in ADP by selling 54 shares or 6.11% in the most recent quarter. The Hedge Fund company now holds 830 shares of ADP which is valued at $75,198. Automatic Data Processing makes up approx 0.05% of Tradewinds Capital Management’s portfolio.Cibc World Markets boosted its stake in ADP in the latest quarter, The investment management firm added 3,984 additional shares and now holds a total of 26,527 shares of Automatic Data Processing which is valued at $2,369,657. Automatic Data Processing makes up approx 0.01% of Cibc World Markets’s portfolio.Commonwealth Equity Services Inc boosted its stake in ADP in the latest quarter, The investment management firm added 11,808 additional shares and now holds a total of 119,101 shares of Automatic Data Processing which is valued at $10,421,338. Automatic Data Processing makes up approx 0.08% of Commonwealth Equity Services Inc’s portfolio.

Automatic Data Processing opened for trading at $94.31 and hit $94.6 on the upside on Monday, eventually ending the session at $94.39, with a gain of 0.01% or 0.01 points. The heightened volatility saw the trading volume jump to 16,36,557 shares. Company has a market cap of $42,586 M.

On the company’s financial health, Automatic Data Processing reported $0.86 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $0.76. The company had revenue of $2916.90 million for the quarter, compared to analysts expectations of $2915.70 million. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.

Investors should note that on Nov 8, 2016, Automatic Data Processing announced a cash dividend of $0.5700. The company’s management has announced Dec 7, 2016 as the ex-dividend date and fixed the record date on Dec 9, 2016. The payable date has been fixed on Jan 1, 2017.

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.

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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