Equities research analysts forecast that Automatic Data Processing (NYSE:ADP) will post sales of $3.04 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Automatic Data Processing’s earnings. The lowest sales estimate is $3.02 billion and the highest is $3.07 billion. Automatic Data Processing posted sales of $2.90 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.8%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, July 27th.
On average, analysts expect that Automatic Data Processing will report full-year sales of $3.04 billion for the current year, with estimates ranging from $12.33 billion to $12.38 billion. For the next fiscal year, analysts anticipate that the business will report sales of $13.04 billion per share, with estimates ranging from $12.99 billion to $13.16 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Automatic Data Processing.
Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings results on Wednesday, May 3rd. The business services provider reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.08. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS.
ADP has been the topic of a number of recent research reports. Argus decreased their price objective on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a research report on Wednesday, May 31st. Zacks Investment Research downgraded Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Evercore ISI downgraded Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 price objective on the stock. in a research report on Friday, June 2nd. BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Goldman Sachs Group, Inc. (The) downgraded Automatic Data Processing from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $115.00 to $108.00 in a research report on Tuesday, June 20th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $99.00.
In other news, CEO Carlos A. Rodriguez sold 49,392 shares of the stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total value of $4,939,693.92. Following the sale, the chief executive officer now directly owns 159,403 shares in the company, valued at $15,941,894.03. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Donald Weinstein sold 1,933 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $197,127.34. Following the completion of the sale, the vice president now owns 25,737 shares in the company, valued at $2,624,659.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,257 shares of company stock worth $5,435,827.
Several large investors have recently modified their holdings of ADP. Tyers Asset Management LLC purchased a new stake in Automatic Data Processing during the fourth quarter valued at $1,005,000. Private Trust Co. NA raised its stake in Automatic Data Processing by 7.4% in the first quarter. Private Trust Co. NA now owns 9,620 shares of the business services provider’s stock valued at $985,000 after buying an additional 665 shares during the last quarter. Forbes J M & Co. LLP raised its stake in Automatic Data Processing by 0.5% in the fourth quarter. Forbes J M & Co. LLP now owns 11,355 shares of the business services provider’s stock valued at $1,166,000 after buying an additional 56 shares during the last quarter. GSB Wealth Management LLC purchased a new stake in Automatic Data Processing during the fourth quarter valued at $345,000. Finally, TNB Financial purchased a new stake in Automatic Data Processing during the first quarter valued at $582,000.
Shares of Automatic Data Processing (NYSE ADP) traded down 0.28% during trading on Friday, reaching $101.35. The company’s stock had a trading volume of 2,837,393 shares. The stock has a market cap of $45.35 billion and a price-to-earnings ratio of 26.22. Automatic Data Processing has a 12-month low of $85.48 and a 12-month high of $105.68. The company has a 50 day moving average of $100.83 and a 200-day moving average of $101.57.
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Automatic Data Processing Company Profile
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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