Equities research analysts forecast that Automatic Data Processing (NASDAQ:ADP) will report sales of $3.28 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Automatic Data Processing’s earnings, with estimates ranging from $3.26 billion to $3.30 billion. Automatic Data Processing reported sales of $3.08 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.5%. The company is expected to issue its next quarterly earnings report before the market opens on Wednesday, October 31st.
According to Zacks, analysts expect that Automatic Data Processing will report full year sales of $14.14 billion for the current fiscal year, with estimates ranging from $14.10 billion to $14.27 billion. For the next fiscal year, analysts expect that the firm will post sales of $15.12 billion, with estimates ranging from $14.91 billion to $15.36 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Automatic Data Processing.
Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.02. Automatic Data Processing had a return on equity of 50.17% and a net margin of 12.16%. The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter last year, the business earned $0.66 earnings per share. Automatic Data Processing’s revenue was up 8.3% on a year-over-year basis.
A number of research analysts recently commented on ADP shares. Stifel Nicolaus raised their price target on Automatic Data Processing from $126.00 to $148.00 and gave the stock a “hold” rating in a research report on Wednesday, June 6th. Wedbush lifted their target price on Automatic Data Processing from $101.25 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, June 13th. Guggenheim initiated coverage on Automatic Data Processing in a research report on Monday, August 20th. They issued a “buy” rating and a $175.00 target price on the stock. Argus lifted their target price on Automatic Data Processing from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, August 13th. Finally, Zacks Investment Research cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $141.07.
Shares of NASDAQ ADP opened at $149.91 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.58. Automatic Data Processing has a 52 week low of $107.61 and a 52 week high of $151.01. The firm has a market capitalization of $65.13 billion, a P/E ratio of 34.46, a P/E/G ratio of 2.54 and a beta of 0.91.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Thursday, September 13th. Automatic Data Processing’s dividend payout ratio is presently 63.45%.
In other news, VP Michael C. Eberhard sold 9,100 shares of Automatic Data Processing stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $150.00, for a total transaction of $1,365,000.00. Following the sale, the vice president now directly owns 48,468 shares of the company’s stock, valued at $7,270,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Don Mcguire sold 1,140 shares of Automatic Data Processing stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $145.78, for a total value of $166,189.20. Following the sale, the vice president now directly owns 6,476 shares in the company, valued at $944,071.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,291 shares of company stock worth $2,666,603. Company insiders own 0.33% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Rikoon Group LLC lifted its stake in shares of Automatic Data Processing by 10.5% in the first quarter. Rikoon Group LLC now owns 3,990 shares of the business services provider’s stock worth $452,000 after acquiring an additional 379 shares during the period. Pensionfund Sabic acquired a new position in shares of Automatic Data Processing in the second quarter worth approximately $2,750,000. Pensionfund DSM Netherlands acquired a new position in shares of Automatic Data Processing in the second quarter worth approximately $3,595,000. Park National Corp OH lifted its stake in shares of Automatic Data Processing by 0.9% in the second quarter. Park National Corp OH now owns 367,536 shares of the business services provider’s stock worth $49,301,000 after acquiring an additional 3,389 shares during the period. Finally, Private Trust Co. NA lifted its stake in shares of Automatic Data Processing by 4.6% in the second quarter. Private Trust Co. NA now owns 9,237 shares of the business services provider’s stock worth $1,239,000 after acquiring an additional 406 shares during the period. 77.57% of the stock is currently owned by hedge funds and other institutional investors.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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