Automatic Data Processing, Inc. to Post Q3 2024 Earnings of $2.71 Per Share, Zacks Research Forecasts (NASDAQ:ADP)

Posted by Defense World Staff on Oct 9th, 2023

Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) – Analysts at Zacks Research cut their Q3 2024 earnings estimates for shares of Automatic Data Processing in a research report issued on Wednesday, October 4th. Zacks Research analyst S. Bose now expects that the business services provider will earn $2.71 per share for the quarter, down from their previous estimate of $2.72. The consensus estimate for Automatic Data Processing’s current full-year earnings is $9.14 per share. Zacks Research also issued estimates for Automatic Data Processing’s FY2024 earnings at $9.07 EPS and Q3 2025 earnings at $2.74 EPS.

A number of other brokerages also recently issued reports on ADP. Mizuho raised their price target on shares of Automatic Data Processing from $255.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, August 17th. JPMorgan Chase & Co. raised their price target on shares of Automatic Data Processing from $260.00 to $280.00 and gave the company an “underweight” rating in a report on Tuesday, August 22nd. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Robert W. Baird raised their price target on shares of Automatic Data Processing from $235.00 to $270.00 in a report on Thursday, July 27th. Finally, Royal Bank of Canada assumed coverage on shares of Automatic Data Processing in a research note on Tuesday, September 5th. They issued a “sector perform” rating and a $267.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $250.62.

View Our Latest Report on Automatic Data Processing

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $246.38 on Monday. The firm’s 50-day moving average price is $248.05 and its 200-day moving average price is $229.47. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.85. The company has a market cap of $101.50 billion, a PE ratio of 30.05, a PEG ratio of 2.31 and a beta of 0.81. Automatic Data Processing has a 52-week low of $201.46 and a 52-week high of $274.92.

Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.83 by $0.06. Automatic Data Processing had a net margin of 18.94% and a return on equity of 107.15%. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the firm posted $1.50 EPS. Automatic Data Processing’s revenue for the quarter was up 8.5% on a year-over-year basis.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 8th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Thursday, September 7th. Automatic Data Processing’s payout ratio is currently 60.98%.

Insider Activity

In other news, insider Carlos A. Rodriguez sold 58,864 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $250.42, for a total transaction of $14,740,722.88. Following the sale, the insider now owns 44,859 shares in the company, valued at $11,233,590.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Carlos A. Rodriguez sold 52,254 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $247.93, for a total value of $12,955,334.22. Following the completion of the transaction, the insider now directly owns 44,859 shares of the company’s stock, valued at $11,121,891.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Carlos A. Rodriguez sold 58,864 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $250.42, for a total transaction of $14,740,722.88. Following the completion of the transaction, the insider now directly owns 44,859 shares of the company’s stock, valued at $11,233,590.78. The disclosure for this sale can be found here. Insiders have sold a total of 172,469 shares of company stock worth $43,287,670 over the last quarter. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Ten Capital Wealth Advisors LLC boosted its stake in Automatic Data Processing by 110.7% during the first quarter. Ten Capital Wealth Advisors LLC now owns 118 shares of the business services provider’s stock worth $26,000 after buying an additional 62 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in Automatic Data Processing during the first quarter worth $28,000. Coppell Advisory Solutions LLC purchased a new position in Automatic Data Processing during the second quarter worth $30,000. Coppell Advisory Solutions Corp. purchased a new position in Automatic Data Processing during the fourth quarter worth $33,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Automatic Data Processing during the first quarter worth $31,000. 79.37% of the stock is owned by hedge funds and other institutional investors.

About Automatic Data Processing

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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.