Automatic Data Processing Expected to Post Q4 2017 Earnings of $0.70 Per Share (NYSE:ADP)
Automatic Data Processing (NYSE:ADP) – Analysts at Wedbush issued their Q4 2017 earnings per share (EPS) estimates for shares of Automatic Data Processing in a note issued to investors on Wednesday. Wedbush analyst M. Katri anticipates that the business services provider will earn $0.70 per share for the quarter.
Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings results on Wednesday, May 3rd. The business services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.08. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.17 EPS.
ADP has been the topic of several other reports. Argus reduced their target price on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a report on Wednesday, May 31st. Zacks Investment Research downgraded Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Evercore ISI downgraded Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 target price on the stock. in a report on Friday, June 2nd. Barclays PLC downgraded Automatic Data Processing from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $110.00 to $105.00 in a report on Tuesday. Finally, BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $98.43.
Automatic Data Processing (ADP) traded up 1.06% during mid-day trading on Friday, reaching $104.44. The company had a trading volume of 2,008,000 shares. The company’s 50 day moving average is $102.19 and its 200 day moving average is $101.71. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $105.68. The stock has a market capitalization of $46.73 billion and a price-to-earnings ratio of 27.02.
In related news, VP Donald Weinstein sold 1,933 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $197,127.34. Following the completion of the transaction, the vice president now owns 25,737 shares in the company, valued at approximately $2,624,659.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total transaction of $4,939,693.92. Following the completion of the transaction, the chief executive officer now owns 159,403 shares of the company’s stock, valued at approximately $15,941,894.03. The disclosure for this sale can be found here. Insiders sold a total of 54,257 shares of company stock valued at $5,435,827 in the last 90 days.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Private Trust Co. NA boosted its position in Automatic Data Processing by 7.4% in the first quarter. Private Trust Co. NA now owns 9,620 shares of the business services provider’s stock valued at $985,000 after buying an additional 665 shares during the period. Forbes J M & Co. LLP boosted its position in Automatic Data Processing by 0.5% in the fourth quarter. Forbes J M & Co. LLP now owns 11,355 shares of the business services provider’s stock valued at $1,166,000 after buying an additional 56 shares during the period. GSB Wealth Management LLC bought a new position in Automatic Data Processing during the fourth quarter valued at $345,000. TNB Financial bought a new position in Automatic Data Processing during the first quarter valued at $582,000. Finally, Honkamp Krueger Financial Services Inc. boosted its position in Automatic Data Processing by 9.6% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 3,231 shares of the business services provider’s stock valued at $331,000 after buying an additional 283 shares during the period.
About Automatic Data Processing
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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