Automatic Data Processing (NASDAQ:ADP – Get Free Report) issued its earnings results on Wednesday. The business services provider reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.09, Briefing.com reports. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the business earned $2.52 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. Automatic Data Processing updated its FY24 guidance to $9.05-$9.22 EPS and its FY 2024 guidance to 9.050-9.220 EPS.
Automatic Data Processing Price Performance
Shares of ADP stock traded down $4.71 during trading hours on Thursday, reaching $242.62. 293,882 shares of the company were exchanged, compared to its average volume of 1,780,879. Automatic Data Processing has a fifty-two week low of $205.53 and a fifty-two week high of $256.84. The stock’s fifty day moving average is $246.16 and its two-hundred day moving average is $239.11. The company has a market cap of $99.67 billion, a price-to-earnings ratio of 28.27, a P/E/G ratio of 2.27 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01.
Automatic Data Processing Announces Dividend
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 given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.31%. Automatic Data Processing’s payout ratio is 65.19%.
Analyst Upgrades and Downgrades
Check Out Our Latest Analysis on ADP
Insider Transactions at Automatic Data Processing
In related news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, 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 have sold 3,829 shares of company stock worth $965,274. 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.
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