Automatic Data Processing (ADP) Publishes Quarterly Revenue Results, Beats Anticipation By $0.06 EPS

Automatic Data Processing (ADP) Publishes Quarterly  Revenue Results, Beats Anticipation By $0.06 EPS

Automatic Data Processing (NYSE:ADP) posted its quarterly earnings results on Wednesday. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.06. The company earned $3 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Automatic Data Processing’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 EPS. Automatic Data Processing updated its FY17 guidance to $3.62-3.68 EPS.

Shares of Automatic Data Processing (NYSE:ADP) opened at 100.99 on Wednesday. Automatic Data Processing has a 1-year low of $78.98 and a 1-year high of $104.09. The company has a market capitalization of $45.56 billion and a P/E ratio of 30.22. The firm’s 50 day moving average price is $102.29 and its 200-day moving average price is $93.36.

The company also recently declared a quarterly dividend, which will be paid on Saturday, April 1st. Shareholders of record on Friday, March 10th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.26%.

In other Automatic Data Processing news, VP Stuart Sackman sold 2,616 shares of the stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $100.32, for a total value of $262,437.12. Following the completion of the sale, the vice president now directly owns 20,376 shares in the company, valued at $2,044,120.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Brock Albinson sold 1,051 shares of the stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $102.81, for a total value of $108,053.31. Following the completion of the sale, the vice president now owns 5,049 shares of the company’s stock, valued at $519,087.69. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,244 shares of company stock worth $8,149,238.

Large investors have recently added to or reduced their stakes in the stock. Essex Financial Services Inc. boosted its stake in Automatic Data Processing by 4.8% in the fourth quarter. Essex Financial Services Inc. now owns 21,380 shares of the company’s stock worth $2,197,000 after buying an additional 978 shares during the period. Headinvest LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth approximately $765,000. Wrapmanager Inc. boosted its stake in Automatic Data Processing by 23.3% in the fourth quarter. Wrapmanager Inc. now owns 4,657 shares of the company’s stock worth $479,000 after buying an additional 880 shares during the period. Arthur M. Cohen & Associates LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth approximately $309,000. Finally, Russell Investments Group Ltd. acquired a new stake in Automatic Data Processing during the fourth quarter worth approximately $59,843,000.

A number of equities analysts have weighed in on ADP shares. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research report on Monday. Goldman Sachs Group, Inc. (The) raised Automatic Data Processing from a “neutral” rating to a “buy” rating and set a $114.00 target price for the company in a research report on Friday, December 16th. BMO Capital Markets reissued a “hold” rating on shares of Automatic Data Processing in a research report on Thursday, November 3rd. Stifel Nicolaus boosted their target price on Automatic Data Processing from $95.00 to $105.00 and gave the stock a “hold” rating in a research report on Monday. Finally, RBC Capital Markets reissued a “hold” rating and issued a $99.00 target price on shares of Automatic Data Processing in a research report on Friday, January 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Automatic Data Processing has an average rating of “Hold” and an average price target of $101.36.

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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