Automatic Data Processing (ADP) Set to Announce Quarterly Earnings on Wednesday

Automatic Data Processing (NASDAQ:ADP) is scheduled to post 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.Investors that wish to listen to 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The firm had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. 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 Stock Up 0.4 %

ADP stock opened at $243.95 on Tuesday. The firm has a 50-day moving average price of $246.51 and a 200-day moving average price of $239.10. Automatic Data Processing has a 12 month low of $205.53 and a 12 month high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $100.21 billion, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 2.28 and a beta of 0.78.

Automatic Data Processing Dividend Announcement

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

Analyst Upgrades and Downgrades

ADP has been the topic of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Evercore ISI raised their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Finally, Mizuho increased their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $258.36.

Insider Activity at Automatic Data Processing

In related news, VP Don Mcguire sold 11,333 shares of the business’s 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 transaction, the vice president now owns 19,906 shares in the company, valued at approximately $4,876,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Automatic Data Processing news, VP David Kwon sold 863 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Don Mcguire sold 11,333 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now 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 have sold a total of 15,162 shares of company stock worth $3,741,859 in the last 90 days. Corporate 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.