Automatic Data Processing (ADP) Posts Earnings Results, Beats Estimates By $0.06 EPS
Automatic Data Processing (NYSE:ADP) released its quarterly earnings results on Tuesday. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06, Bloomberg Earnings reports. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the company posted $0.86 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis.
In other Automatic Data Processing news, VP Brock Albinson sold 3,663 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $106.54, for a total value of $390,256.02. Following the sale, the vice president now owns 6,287 shares in the company, valued at $669,816.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Maria Black sold 631 shares of the firm’s stock in a transaction that occurred on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the sale, the vice president now owns 10,550 shares in the company, valued at approximately $1,125,052. The disclosure for this sale can be found here.
A number of research firms recently issued reports on ADP. BidaskClub lowered Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Thursday. BMO Capital Markets reissued a “market perform” rating and set a $105.00 price target on shares of Automatic Data Processing in a report on Wednesday, August 9th. Wells Fargo & Company reissued a “market perform” rating on shares of Automatic Data Processing in a report on Wednesday, August 9th. Barclays PLC lifted their price objective on Automatic Data Processing from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, October 26th. Finally, Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $110.97.
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About Automatic Data Processing
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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