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

Automatic Data Processing (NASDAQ:ADP) is scheduled to be releasing its earnings data 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.Investors that are interested in participating in the company’s conference call can do so using this link.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.10 by $0.03. The business had revenue of $4.67 billion during 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 business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $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 Up 0.4 %

Automatic Data Processing stock opened at $243.95 on Tuesday. The firm has a market cap of $100.21 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 2.28 and a beta of 0.78. Automatic Data Processing has a 1 year low of $205.53 and a 1 year high of $256.84. The firm’s 50 day moving average price is $246.51 and its two-hundred day moving average price is $239.10. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on ADP. Mizuho upped their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their target price for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. Finally, Evercore ISI boosted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $258.36.

Insider Buying and Selling

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now owns 17,179 shares in the company, valued at approximately $4,380,645. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,162 shares of company stock worth $3,741,859. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Company Profile

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.