Automatic Data Processing to Post Q2 2019 Earnings of $1.17 Per Share, Northcoast Research Forecasts (ADP)

Automatic Data Processing (NASDAQ:ADP) – Northcoast Research issued their Q2 2019 earnings per share estimates for shares of Automatic Data Processing in a research report issued on Thursday, November 1st. Northcoast Research analyst K. Mehta forecasts that the business services provider will post earnings per share of $1.17 for the quarter. Northcoast Research also issued estimates for Automatic Data Processing’s Q3 2019 earnings at $1.72 EPS, Q4 2019 earnings at $1.17 EPS and FY2019 earnings at $5.26 EPS.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 31st. The business services provider reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.09. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.28 billion. Automatic Data Processing had a net margin of 12.71% and a return on equity of 50.96%. The company’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS.

Other research analysts have also issued reports about the stock. BidaskClub lowered shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 1st. Argus increased their price objective on shares of Automatic Data Processing from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, August 13th. Guggenheim initiated coverage on shares of Automatic Data Processing in a report on Monday, August 20th. They set a “buy” rating and a $175.00 price objective on the stock. Moffett Nathanson initiated coverage on shares of Automatic Data Processing in a report on Thursday, October 4th. They set a “buy” rating and a $180.00 price objective on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Automatic Data Processing in a report on Monday, October 1st. They set a “hold” rating and a $160.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $148.69.

Shares of ADP stock opened at $140.72 on Friday. The stock has a market cap of $61.56 billion, a PE ratio of 30.39, a P/E/G ratio of 2.14 and a beta of 0.91. Automatic Data Processing has a 1-year low of $107.61 and a 1-year high of $153.51. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.05 and a current ratio of 1.03.

A number of large investors have recently modified their holdings of the business. Virginia Retirement Systems ET AL acquired a new stake in Automatic Data Processing in the third quarter valued at approximately $9,446,000. Security National Trust Co. grew its position in Automatic Data Processing by 1.1% in the third quarter. Security National Trust Co. now owns 38,467 shares of the business services provider’s stock valued at $5,795,000 after acquiring an additional 435 shares in the last quarter. American Century Companies Inc. grew its position in Automatic Data Processing by 1.9% in the third quarter. American Century Companies Inc. now owns 1,463,786 shares of the business services provider’s stock valued at $220,534,000 after acquiring an additional 27,951 shares in the last quarter. First Long Island Investors LLC grew its position in shares of Automatic Data Processing by 11.5% during the third quarter. First Long Island Investors LLC now owns 94,170 shares of the business services provider’s stock worth $14,188,000 after buying an additional 9,725 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Automatic Data Processing by 2.5% during the third quarter. CIBC Asset Management Inc now owns 61,331 shares of the business services provider’s stock worth $9,240,000 after buying an additional 1,506 shares in the last quarter. 77.89% of the stock is owned by institutional investors.

In other Automatic Data Processing news, VP Michael C. Eberhard sold 9,100 shares of the stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $150.00, for a total value of $1,365,000.00. Following the completion of the sale, the vice president now owns 48,468 shares of the company’s stock, valued at $7,270,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Don Mcguire sold 1,140 shares of the stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $145.78, for a total transaction of $166,189.20. Following the completion of the sale, the vice president now directly owns 6,476 shares of the company’s stock, valued at approximately $944,071.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,919 shares of company stock valued at $2,351,933. Corporate insiders own 0.33% of the company’s stock.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Earnings History and Estimates for Automatic Data Processing (NASDAQ:ADP)

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