Automatic Data Processing (ADP) Issues Earnings Results, Beats Expectations By $0.06 EPS
Automatic Data Processing (NYSE:ADP) issued its quarterly earnings data on Tuesday. The business services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06, Bloomberg Earnings reports. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year.
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In other Automatic Data Processing news, VP Brock Albinson sold 3,663 shares of the company’s 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 transaction, the vice president now owns 6,287 shares of the company’s stock, valued at $669,816.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Maria Black sold 631 shares of the company’s stock in a transaction on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the completion of the transaction, the vice president now directly owns 10,550 shares in the company, valued at approximately $1,125,052. The disclosure for this sale can be found here.
A number of equities research analysts recently weighed in on the company. BidaskClub downgraded Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Sanford C. Bernstein raised their price objective on Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday. Barclays PLC raised their price objective on Automatic Data Processing from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, October 26th. Zacks Investment Research downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, Bank of America Corporation raised their price objective on Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. Automatic Data Processing has an average rating of “Hold” and an average price target of $110.97.
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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