Fiscal 2022 EPS estimates for Automatic Data Processing, Inc. Raised by Wedbush (NASDAQ:ADP)
Automatic Data Processing, Inc. (NASDAQ: ADP – Get a rating) – Wedbush equity researchers raised their FY2022 EPS estimates for automatic data processing stocks in a report released Wednesday, April 27. Wedbush analyst Katri now expects the business services provider to earn $6.95 per share for the year, up from its previous estimate of $6.87. Wedbush also released estimates for Automatic Data Processing Q3 2023 earnings at $2.31 EPS.
Other research analysts have also recently published reports on the company. Mizuho lowered its price target on automatic data processing from $245.00 to $235.00 and set a “buy” rating for the company in a Monday, February 14 research report. StockNews.com launched coverage on automatic data processing in a report on Thursday, March 31. They issued a “maintaining” rating for the company. Morgan Stanley cut its price target on automatic data processing stock from $235.00 to $225.00 and set an “equal weight” rating on the stock in a Thursday, January 27 report. Robert W. Baird cut his price target on automatic data processing stocks from $242.00 to $220.00 in a research report Thursday, January 27. Finally, Stifel Nicolaus reaffirmed a “hold” rating and posted a target price of $238.00 (from $222.00) on Automatic Data Processing stock in a Friday, March 11 research report. One financial analyst has assigned the stock a sell rating, ten have assigned a hold rating and four have assigned the stock a buy rating. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $229.00.
NASDAQ: ADP opened at $229.68 on Friday. Automatic Data Processing has a 12 month minimum of $184.85 and a 12 month maximum of $248.96. The company has a debt ratio of 0.59, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $96.48 billion, a PE ratio of 35.55, a growth price-earnings ratio of 2.81 and a beta of 0.84. The company’s 50-day moving average price is $218.90 and its 200-day moving average price is $222.79.
Automatic data processing (NASDAQ: ADP – Get a rating) last reported quarterly earnings data on Wednesday, April 27. The business services provider reported EPS of $2.21 for the quarter, beating the Zacks consensus estimate of $2.08 by $0.13. The company posted revenue of $4.51 billion for the quarter, versus a consensus estimate of $4.45 billion. Automatic data processing generated a net margin of 17.48% and a return on equity of 50.01%. The company’s quarterly revenue increased by 10.0% compared to the same quarter last year. During the same period a year earlier, the company posted EPS of $1.89.
A number of large investors have recently changed their positions in ADP. Homrich & Berg increased its position in Automatic Data Processing stocks by 25.7% in the third quarter. Homrich & Berg now owns 8,695 shares of the business services provider worth $1,738,000 after buying an additional 1,775 shares last quarter. AXA SA increased its stake in IT by 5.7% during the third quarter. AXA SA now owns 518,875 shares of the business services provider worth $103,734,000 after buying an additional 27,960 shares in the last quarter. Vestmark Advisory Solutions Inc. strengthened its position in automatic data processing by 11.5% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 7,647 shares of the business services provider worth $1,885,000 after purchasing an additional 791 shares in the last quarter. Formidable Asset Management LLC increased its holdings in automatic data processing by 245.5% in the third quarter. Formidable Asset Management LLC now owns 5,776 shares of the business services provider valued at $1,155,000 after buying an additional 4,104 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV increased its stake in automatic data processing by 17.6% in the third quarter. Nations Financial Group Inc. IA ADV now owns 10,917 shares of the business services provider valued at $2,183,000 after buying an additional 1,632 shares in the last quarter. Hedge funds and other institutional investors own 78.71% of the company’s shares.
In other news on automatic data processing, VP Deborah L. Dyson sold 2,787 shares of the company in a trade on Tuesday, April 5. The shares were sold at an average price of $234.55, for a total transaction of $653,690.85. Following the completion of the transaction, the vice president now owns 26,663 shares of the company, valued at approximately $6,253,806.65. The sale was disclosed in a legal filing with the SEC, accessible via this link. Also, Vice President Christopher D’Ambrosio sold 329 shares of Automatic Data Processing in a trade dated Monday, February 7. The shares were sold at an average price of $206.93, for a total transaction of $68,079.97. Disclosure of this sale can be found here. Insiders sold 4,787 shares of the company valued at $1,073,466 in the past ninety days. Company insiders own 0.34% of the company’s shares.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1. Shareholders of record on Friday, June 10 will receive a dividend of $1.04. The ex-date of this dividend is Thursday, June 9. This represents a dividend of $4.16 on an annualized basis and a yield of 1.81%. Automatic Data Processing’s dividend payout ratio is currently 64.40%.
Automatic Data Processing Company Profile (Get a rating)
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic cloud-based platforms and human resource (HR) outsourcing solutions.
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