Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund delivered negative returns. The market continued its decline in the third quarter and the S&P 500 Index fell -4.9%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Carillon Tower highlighted stocks like Automatic Data Processing, Inc. (NASDAQ:ADP) in the Q3 2022 investor letter. Headquartered in Roseland, New Jersey, Automatic Data Processing, Inc. (NASDAQ:ADP) is a global human capital management solutions company. On November 18, 2022, Automatic Data Processing, Inc. (NASDAQ:ADP) stock closed at $256.02 per share. One-month return of Automatic Data Processing, Inc. (NASDAQ:ADP) was 8.07% and its shares gained 8.11% of their value over the last 52 weeks. Automatic Data Processing, Inc. (NASDAQ:ADP) has a market capitalization of $106.204 billion.
Carillon Tower made the following comment about Automatic Data Processing, Inc. (NASDAQ:ADP) in its Q3 2022 investor letter:
“Despite a difficult macroeconomic environment, hiring trends have remained robust and Automatic Data Processing, Inc. (NASDAQ:ADP) shares reacted positively to strong quarterly earnings and guidance that was well above consensus expectations.”
Automatic Data Processing, Inc. (NASDAQ:ADP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 48 hedge fund portfolios held Automatic Data Processing, Inc. (NASDAQ:ADP) at the end of the third quarter, which was 39 in the previous quarter.
We discussed Automatic Data Processing, Inc. (NASDAQ:ADP) in another article and shared Polen Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.