Automatic Data Processing (NYSE:ADP) – Equities research analysts at Wedbush issued their FY2018 earnings per share estimates for shares of Automatic Data Processing in a research report issued on Tuesday. Wedbush analyst M. Katri anticipates that the business services provider will post earnings per share of $3.81 for the year.
A number of other research firms have also weighed in on ADP. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Morgan Stanley lowered shares of Automatic Data Processing from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $98.00 to $100.00 in a research report on Thursday, August 3rd. Bank of America Corporation boosted their price target on shares of Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. Barclays PLC restated an “equal weight” rating and set a $105.00 price target on shares of Automatic Data Processing in a research report on Tuesday, August 15th. Finally, BMO Capital Markets restated a “market perform” rating and set a $105.00 price target on shares of Automatic Data Processing in a research report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $109.25.
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Automatic Data Processing (ADP
) traded up 0.40% during midday trading on Thursday, reaching $114.39. The company’s stock had a trading volume of 586,603 shares. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $121.77. The stock has a 50-day moving average price of $109.64 and a 200 day moving average price of $104.98. The company has a market cap of $50.83 billion and a PE ratio of 29.71.
Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS.
Large investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC purchased a new position in Automatic Data Processing in the second quarter worth $102,000. Proficio Capital Partners LLC grew its position in Automatic Data Processing by 1.8% in the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after acquiring an additional 17 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Automatic Data Processing in the first quarter worth $113,000. Grove Bank & Trust grew its position in Automatic Data Processing by 16.4% in the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after acquiring an additional 170 shares in the last quarter. Finally, Armbruster Capital Management Inc. grew its position in Automatic Data Processing by 2.5% in the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock worth $135,000 after acquiring an additional 32 shares in the last quarter.
In related news, CEO Carlos A. Rodriguez sold 36,363 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $110.00, for a total value of $3,999,930.00. Following the completion of the transaction, the chief executive officer now directly owns 146,494 shares in the company, valued at $16,114,340. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $390,256.02. Following the completion of the transaction, the vice president now owns 6,287 shares of the company’s stock, valued at $669,816.98. The disclosure for this sale can be found here. Insiders sold 40,657 shares of company stock valued at $4,457,476 over the last quarter.
The business also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 8th were given a $0.57 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.28 annualized dividend and a yield of 2.00%.
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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