Automatic Data Processing (NASDAQ:ADP) Issues FY 2024 Earnings Guidance

Automatic Data Processing (NASDAQ:ADP) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 9.050-9.220 for the period, compared to the consensus estimate of 9.130. The company issued revenue guidance of $19.1 billion-$19.3 billion, compared to the consensus revenue estimate of $19.2 billion. Automatic Data Processing also updated its FY24 guidance to $9.05-$9.22 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADP. StockNews.com downgraded Automatic Data Processing from a buy rating to a hold rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. lowered their price objective on Automatic Data Processing from $254.00 to $250.00 and set an underweight rating for the company in a research note on Thursday. TD Cowen cut their target price on Automatic Data Processing from $253.00 to $251.00 and set a hold rating on the stock in a research note on Thursday. Mizuho upped their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a buy rating in a research report on Monday, March 11th. Finally, Barclays lifted their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an overweight rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $255.42.

Automatic Data Processing Stock Down 0.1 %

Shares of ADP traded down $0.14 during mid-day trading on Friday, reaching $241.89. The company’s stock had a trading volume of 1,491,532 shares, compared to its average volume of 1,451,137. The business has a fifty day moving average of $245.63 and a 200 day moving average of $239.08. The company has a market cap of $99.37 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing has a 1 year low of $205.53 and a 1 year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.09. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.52 EPS. As a group, analysts forecast that Automatic Data Processing will post 9.15 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.32%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP David Kwon sold 863 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The disclosure for this sale can be found here. Insiders sold 3,829 shares of company stock valued at $965,274 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Company Profile

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.