Wedbush Comments on Automatic Data Processing’s Q1 2019 Earnings (ADP)
Automatic Data Processing (NYSE:ADP) – Wedbush lifted their Q1 2019 earnings per share (EPS) estimates for shares of Automatic Data Processing in a report issued on Friday. Wedbush analyst M. Katri now expects that the business services provider will post earnings per share of $0.92 for the quarter, up from their previous estimate of $0.91. Wedbush also issued estimates for Automatic Data Processing’s Q3 2019 earnings at $1.51 EPS and FY2019 earnings at $4.27 EPS.
A number of other brokerages also recently weighed in on ADP. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. BMO Capital Markets lowered their target price on Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating for the company in a report on Friday. Morgan Stanley downgraded Automatic Data Processing from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $98.00 to $100.00 in a report on Thursday, August 3rd. Bank of America Corporation lifted their target price on Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $105.00 target price on shares of Automatic Data Processing in a report on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $111.57.
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Shares of Automatic Data Processing (NYSE:ADP) traded up $1.42 during mid-day trading on Monday, reaching $112.75. The company’s stock had a trading volume of 3,379,766 shares, compared to its average volume of 1,920,000. Automatic Data Processing has a 1-year low of $87.58 and a 1-year high of $121.77.
Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 40.61% and a net margin of 13.04%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period last year, the company earned $0.86 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be issued a dividend of $0.63 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a yield of 2.24%.
In related news, VP Maria Black sold 631 shares of Automatic Data Processing stock in a transaction on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total transaction of $67,289.84. Following the sale, the vice president now directly owns 10,550 shares in the company, valued at $1,125,052. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brock Albinson sold 3,663 shares of Automatic Data Processing stock in a transaction on Friday, September 1st. The stock was sold at an average price of $106.54, for a total value of $390,256.02. Following the sale, the vice president now owns 6,287 shares in the company, valued at $669,816.98. The disclosure for this sale can be found here.
Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Automatic Data Processing by 1,971.2% in the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after buying an additional 28,201,085 shares during the period. Cedar Capital LLC bought a new stake in shares of Automatic Data Processing in the second quarter valued at $254,000. Gardiner Nancy B raised its stake in shares of Automatic Data Processing by 8.8% in the second quarter. Gardiner Nancy B now owns 21,027 shares of the business services provider’s stock valued at $2,153,000 after buying an additional 1,705 shares during the period. Gotham Asset Management LLC bought a new stake in shares of Automatic Data Processing in the first quarter valued at $1,447,000. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Automatic Data Processing by 1.0% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 38,651 shares of the business services provider’s stock valued at $3,957,000 after buying an additional 380 shares during the period.
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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