Automatic Data Processing (NYSE:ADP) – Equities research analysts at Northcoast Research boosted their Q3 2018 earnings estimates for shares of Automatic Data Processing in a report issued on Friday. Northcoast Research analyst K. Mehta now anticipates that the business services provider will earn $1.39 per share for the quarter, up from their previous estimate of $1.35. Northcoast Research also issued estimates for Automatic Data Processing’s Q4 2018 earnings at $0.72 EPS and FY2019 earnings at $4.15 EPS.

Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 13.04% and a return on equity of 40.61%. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the firm earned $0.86 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: “Northcoast Research Brokers Boost Earnings Estimates for Automatic Data Processing (ADP)” was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.watchlistnews.com/northcoast-research-brokers-boost-earnings-estimates-for-automatic-data-processing-adp/1685962.html.

Other research analysts also recently issued research reports about the stock. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Argus increased their price target on shares of Automatic Data Processing from $118.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a report on Monday, October 16th. Barclays PLC reaffirmed an “equal weight” rating and issued a $105.00 price target on shares of Automatic Data Processing in a report on Tuesday, August 15th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $108.00 price target (up previously from $103.00) on shares of Automatic Data Processing in a report on Sunday, July 30th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. Automatic Data Processing has an average rating of “Hold” and an average target price of $111.57.

Shares of Automatic Data Processing (ADP) traded down $0.91 during trading hours on Monday, hitting $111.33. 2,913,261 shares of the company were exchanged, compared to its average volume of 1,920,000. Automatic Data Processing has a 1 year low of $87.58 and a 1 year high of $121.77.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be given a dividend of $0.63 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.26%.

In other 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 transaction of $390,256.02. Following the transaction, the vice president now directly owns 6,287 shares of the company’s stock, valued at $669,816.98. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Maria Black sold 631 shares of the firm’s stock in a transaction that occurred on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total transaction of $67,289.84. Following the transaction, the vice president now directly owns 10,550 shares in the company, valued at $1,125,052. The disclosure for this sale can be found here.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Automatic Data Processing by 2.4% during the second quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock worth $3,586,099,000 after acquiring an additional 811,960 shares during the period. BlackRock Inc. increased its position in shares of Automatic Data Processing by 0.8% during the second quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock worth $3,060,398,000 after acquiring an additional 237,439 shares during the period. Alliancebernstein L.P. increased its position in shares of Automatic Data Processing by 6.2% during the first quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock worth $854,515,000 after acquiring an additional 485,320 shares during the period. Wells Fargo & Company MN increased its position in shares of Automatic Data Processing by 2.9% during the second quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock worth $696,182,000 after acquiring an additional 190,717 shares during the period. Finally, Polen Capital Management LLC increased its position in shares of Automatic Data Processing by 6.6% during the second quarter. Polen Capital Management LLC now owns 6,661,902 shares of the business services provider’s stock worth $682,578,000 after acquiring an additional 411,369 shares during the period.

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.

Earnings History and Estimates for Automatic Data Processing (NYSE:ADP)

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