Automatic Data Processing (ADP) Scheduled to Post Earnings on Wednesday

Automatic Data Processing (NASDAQ:ADP) will be posting its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect Automatic Data Processing to post earnings of $2.77 per share for the quarter. Automatic Data Processing has set its FY 2024 guidance at 9.050-9.220 EPS and its FY24 guidance at $9.05-9.22 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.96 earnings per share. On average, analysts expect Automatic Data Processing to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Automatic Data Processing Trading Down 1.3 %

Automatic Data Processing stock opened at $243.07 on Monday. Automatic Data Processing has a 1 year low of $205.53 and a 1 year high of $256.84. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $99.85 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 2.28 and a beta of 0.78. The firm’s 50 day moving average price is $246.70 and its two-hundred day moving average price is $239.12.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is 65.19%.

Analysts Set New Price Targets

ADP has been the topic of several research analyst reports. Evercore ISI lifted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Finally, Mizuho lifted their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $258.36.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Sreenivasa Kutam sold 694 shares of Automatic Data Processing stock in a transaction on Friday, March 1st. The shares were sold at an average price of $249.43, for a total value of $173,104.42. Following the completion of the sale, the vice president now owns 20,687 shares of the company’s stock, valued at approximately $5,159,958.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the sale, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The disclosure for this sale can be found here. Insiders sold 15,162 shares of company stock valued at $3,741,859 in the last quarter. Company insiders own 0.26% of the company’s stock.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.