Q1 2023 EPS Estimates for Automatic Data Processing, Inc. Raised by Analyst (NASDAQ:ADP)

Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) – Stock analysts at Jefferies Financial Group boosted their Q1 2023 earnings estimates for Automatic Data Processing in a research note issued on Wednesday, July 27th. Jefferies Financial Group analyst S. Samana now expects that the business services provider will post earnings per share of $1.89 for the quarter, up from their previous estimate of $1.80. The consensus estimate for Automatic Data Processing’s current full-year earnings is $6.98 per share. Jefferies Financial Group also issued estimates for Automatic Data Processing’s Q2 2023 earnings at $1.92 EPS, Q3 2023 earnings at $2.48 EPS, Q4 2023 earnings at $1.74 EPS, FY2023 earnings at $8.02 EPS and FY2024 earnings at $8.96 EPS.

Automatic Data Processing (NASDAQ:ADPGet Rating) last issued its earnings results on Wednesday, July 27th. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.03. Automatic Data Processing had a net margin of 17.77% and a return on equity of 56.01%. The firm had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter last year, the business earned $1.20 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis.

Several other research firms have also recently weighed in on ADP. Morgan Stanley lifted their price target on shares of Automatic Data Processing from $235.00 to $245.00 and gave the company an “equal weight” rating in a report on Thursday. Wolfe Research cut their price target on shares of Automatic Data Processing from $235.00 to $210.00 in a report on Wednesday, July 20th. Citigroup lifted their price target on shares of Automatic Data Processing from $212.00 to $230.00 in a report on Monday, May 2nd. Barclays lifted their price target on shares of Automatic Data Processing from $238.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, May 2nd. Finally, Cowen lifted their price target on shares of Automatic Data Processing from $225.00 to $230.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $231.73.

Automatic Data Processing Stock Up 0.7 %

Shares of Automatic Data Processing stock opened at $241.12 on Friday. The stock has a market capitalization of $100.73 billion, a price-to-earnings ratio of 35.62, a P/E/G ratio of 2.33 and a beta of 0.81. The company’s 50 day moving average price is $215.74 and its 200-day moving average price is $215.75. Automatic Data Processing has a 52-week low of $192.26 and a 52-week high of $248.96. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01.

Insider Transactions at Automatic Data Processing

In other news, VP Augusto J. Blanchard sold 567 shares of Automatic Data Processing stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $210.64, for a total value of $119,432.88. Following the completion of the transaction, the vice president now owns 4,238 shares of the company’s stock, valued at approximately $892,692.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Automatic Data Processing news, VP Augusto J. Blanchard sold 567 shares of the business’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $210.64, for a total value of $119,432.88. Following the completion of the transaction, the vice president now owns 4,238 shares of the company’s stock, valued at approximately $892,692.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Christopher D’ambrosio sold 312 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $214.07, for a total value of $66,789.84. Following the completion of the transaction, the vice president now directly owns 1,663 shares of the company’s stock, valued at approximately $355,998.41. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Automatic Data Processing

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Automatic Data Processing by 5.1% during the 1st quarter. BlackRock Inc. now owns 33,637,473 shares of the business services provider’s stock valued at $7,653,871,000 after purchasing an additional 1,642,852 shares during the period. State Street Corp grew its stake in shares of Automatic Data Processing by 2.0% during the 4th quarter. State Street Corp now owns 18,427,297 shares of the business services provider’s stock valued at $4,562,432,000 after purchasing an additional 357,520 shares during the period. Geode Capital Management LLC grew its stake in shares of Automatic Data Processing by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 8,128,167 shares of the business services provider’s stock valued at $1,999,845,000 after purchasing an additional 73,543 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Automatic Data Processing by 7.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,689,136 shares of the business services provider’s stock valued at $1,522,047,000 after acquiring an additional 461,438 shares during the period. Finally, Capital World Investors grew its stake in shares of Automatic Data Processing by 16.9% during the 1st quarter. Capital World Investors now owns 5,393,160 shares of the business services provider’s stock valued at $1,227,160,000 after acquiring an additional 779,457 shares during the period. Hedge funds and other institutional investors own 78.84% of the company’s stock.

Automatic Data Processing Company Profile

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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.

See Also

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

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