Automatic Data Processing (NASDAQ:ADP) Issues Earnings Results, Beats Estimates By $0.18 EPS

Automatic Data Processing (NASDAQ:ADP) posted its earnings results on Wednesday. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.18, MarketWatch Earnings reports. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. Automatic Data Processing had a net margin of 16.91% and a return on equity of 46.66%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 earnings per share. Automatic Data Processing updated its FY 2021
Pre-Market guidance to 4.85-5.15 EPS and its FY21 guidance to $4.85-$5.15 EPS.

ADP opened at $132.91 on Friday. Automatic Data Processing has a twelve month low of $103.11 and a twelve month high of $182.32. The company has a market cap of $57.11 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 2.22 and a beta of 0.82. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $147.29 and a 200 day moving average price of $150.95.

A number of research analysts have weighed in on ADP shares. Stifel Nicolaus decreased their price objective on shares of Automatic Data Processing from $155.00 to $142.00 and set a “hold” rating for the company in a research report on Thursday. Cowen decreased their price objective on shares of Automatic Data Processing from $195.00 to $158.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. Wedbush reiterated a “neutral” rating on shares of Automatic Data Processing in a research report on Wednesday, April 29th. Morgan Stanley upped their price objective on shares of Automatic Data Processing from $140.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, Bank of America downgraded shares of Automatic Data Processing from a “neutral” rating to an “underperform” rating and set a $132.00 price objective for the company. in a research report on Monday, May 18th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $158.93.

In related news, VP Brian L. Michaud sold 250 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $145.00, for a total transaction of $36,250.00. Following the completion of the sale, the vice president now owns 5,162 shares of the company’s stock, valued at approximately $748,490. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

About Automatic Data Processing

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 for Automatic Data Processing (NASDAQ:ADP)

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