Procurement News Notice |
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| PNN | 2806 |
| Work Detail | Automatic Data Processing (ADP) : State Farm Mutual Automobile Insurance Co scooped up 36,600 additional shares in Automatic Data Processing during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 3,910,505 shares of Automatic Data Processing which is valued at $352,453,816.Automatic Data Processing makes up approximately 0.52% of State Farm Mutual Automobile Insurance Co’s portfolio. Other Hedge Funds, Including , Atlantic Trust Group boosted its stake in ADP in the latest quarter, The investment management firm added 20,068 additional shares and now holds a total of 2,211,106 shares of Automatic Data Processing which is valued at $199,286,984. Automatic Data Processing makes up approx 1.40% of Atlantic Trust Group’s portfolio.Linscomb Williams boosted its stake in ADP in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 7,492 shares of Automatic Data Processing which is valued at $671,808. Automatic Data Processing makes up approx 0.07% of Linscomb Williams’s portfolio. Cambridge Investment Research Advisors sold out all of its stake in ADP during the most recent quarter. The investment firm sold 25,037 shares of ADP which is valued $2,245,068.Her Majesty The Queen In Right Of The Province Of Alberta… boosted its stake in ADP in the latest quarter, The investment management firm added 29,500 additional shares and now holds a total of 69,100 shares of Automatic Data Processing which is valued at $6,093,929. Automatic Data Processing makes up approx 0.08% of Her Majesty The Queen In Right Of The Province Of Alberta…’s portfolio. Automatic Data Processing opened for trading at $90.08 and hit $90.19 on the upside on Tuesday, eventually ending the session at $89.98, with a gain of 0.08% or 0.07 points. The heightened volatility saw the trading volume jump to 11,81,866 shares. Company has a market cap of $41,047 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. Investors should note that on Aug 2, 2016, Automatic Data Processing announced a cash dividend of $0.5300. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Oct 1, 2016. Many Wall Street Analysts have commented on Automatic Data Processing. Robert W. Baird Downgraded Automatic Data Processing on Jul 29, 2016 to ” Neutral”, Price Target of the shares are set at $94.Company shares were Upgraded by Bernstein on Jul 11, 2016 to ” Outperform”, Firm has raised the Price Target to $ 110 from a previous price target of $97 . 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. |
| Country | United States , Northern America |
| Industry | Financial Services |
| Entry Date | 03 Sep 2016 |
| Source | http://www.thefoundersdaily.com/state-farm-mutual-automobile-insurance-co-buys-352453816-stake-in-automatic-data-processing-adp/657203/ |
