Fiscal 2022 EPS estimates for Automatic Data Processing, Inc. lifted by analyst (NASDAQ:ADP)
Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) – Equity research analysts at Jefferies Financial Group have raised their fiscal 2022 earnings per share estimates for Automatic Data Processing shares in a report published on Wednesday, April 27. Jefferies Financial Group analyst S. Samana now expects the business services provider to post earnings of $6.98 per share for the year, up from its previous estimate of $6.80. Jefferies Financial Group also released estimates for Automatic Data Processing Q4 2022 earnings at $1.47 EPS, Q3 2023 earnings at $2.43 EPS, Q4 2023 earnings at $1.63 EPS, fiscal year 2023 earnings at $7.70 EPS and fiscal year 2024 earnings at $8.58 EPS.
ADP has been the subject of several other reports. Mizuho cut its price target on automatic data processing from $245.00 to $235.00 and set a “buy” rating for the company in a Monday, February 14 research note. StockNews.com launched coverage on automatic data processing stocks in a research report on Thursday, March 31. They have set a “holding” rating on the stock. Cowen lowered his price target on automatic data processing shares from $235.00 to $213.00 in a Thursday, Jan. 27 research note. Stifel Nicolaus reaffirmed a “hold” rating and posted a price target of $238.00 (vs. $222.00) on Automatic Data Processing stock in a Friday, March 11 research note. Finally, Robert W. Baird cut his price target on Automatic Data Processing stock from $242.00 to $220.00 in a Thursday, January 27 research note. One equity research analyst has assigned the stock a sell rating, ten have assigned a hold rating and four have assigned the stock a buy rating. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $229.00.
ADP opened at $229.68 on Friday. The company has a market capitalization of $96.48 billion, a P/E ratio of 35.55, a PEG ratio of 2.81 and a beta of 0.84. The stock has a fifty-day moving average of $218.90 and a 200-day moving average of $222.79. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt ratio of 0.59. Automatic Data Processing has a 12 month minimum of $184.85 and a 12 month maximum of $248.96. Automatic Data Processing (NASDAQ:ADP – Get Rating) last announced its results on Wednesday, April 27. The business services provider reported EPS of $2.21 for the quarter, beating the consensus estimate of $2.08 by $0.13. The company posted revenue of $4.51 billion in the quarter, versus $4.45 billion expected by analysts. Automatic data processing generated a net margin of 17.48% and a return on equity of 50.01%. The company’s revenue for the quarter increased 10.0% year over year. During the same period last year, the company posted earnings per share of $1.89.
Major investors have recently increased or reduced their stake in the company. Gilman Hill Asset Management LLC increased its stake in shares of Automatic Data Processing by 2.8% in the fourth quarter. Gilman Hill Asset Management LLC now owns 1,620 shares of the business services provider valued at $399,000 after buying 44 more shares last quarter. First Hawaiian Bank increased its stake in Automatic Data Processing by 1.1% in the first quarter. First Hawaiian Bank now owns 4,176 shares of the business services provider worth $950,000 after acquiring 45 more shares in the last quarter. Baystate Wealth Management LLC increased its position in automatic data processing by 3.2% in the fourth quarter. Baystate Wealth Management LLC now owns 1,482 shares of the business services provider valued at $366,000 after acquiring 46 additional shares last quarter. Lindbrook Capital LLC increased its stake in shares of Automatic Data Processing by 1.4% in the first quarter. Lindbrook Capital LLC now owns 3,302 shares of the business services provider worth $751,000 after acquiring 46 additional shares in the last quarter. Finally, Financial Advisory Group increased its stake in Automatic Data Processing shares by 4.5% in the third quarter. Financial Advisory Group now owns 1,097 shares of the business services provider worth $219,000 after acquiring 47 more shares in the last quarter. 78.71% of the shares are held by institutional investors.
Separately, Vice President Deborah L. Dyson sold 2,787 shares of the company in a trade on Tuesday, April 5. The stock was sold at an average price of $234.55, for a total value of $653,690.85. Following the completion of the transaction, the vice president now directly owns 26,663 shares of the company, valued at $6,253,806.65. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, Vice President Christopher D’ambrosio sold 329 shares of Automatic Data Processing in a trade on Monday, February 7. The stock was sold at an average price of $206.93, for a total transaction of $68,079.97. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 4,787 shares of the company worth $1,073,466. 0.34% of the shares are currently held by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1. Shareholders of record on Friday, June 10 will receive a dividend of $1.04. The ex-date of this dividend is Thursday, June 9. This represents an annualized dividend of $4.16 and a dividend yield of 1.81%. The distribution rate of automatic data processing is 64.40%.
Automatic Data Processing Company Profile (Get a rating)
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic cloud-based platforms and human resource (HR) outsourcing solutions.
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