Zacks Research Analysts Reduce Earnings Estimates for Automatic Data Processing, Inc. (NASDAQ:ADP)

Automatic Data Processing, Inc. (NASDAQ:ADP) – Investment analysts at Zacks Research reduced their Q2 2024 earnings per share estimates for Automatic Data Processing in a report released on Wednesday, November 8th. Zacks Research analyst S. Bose now anticipates that the business services provider will earn $2.10 per share for the quarter, down from their prior estimate of $2.17. The consensus estimate for Automatic Data Processing’s current full-year earnings is $9.14 per share. Zacks Research also issued estimates for Automatic Data Processing’s Q3 2024 earnings at $2.70 EPS, Q4 2024 earnings at $2.20 EPS, Q1 2025 earnings at $2.21 EPS, Q2 2025 earnings at $2.40 EPS, Q4 2025 earnings at $2.38 EPS, FY2025 earnings at $9.74 EPS and FY2026 earnings at $10.86 EPS.

A number of other brokerages have also recently weighed in on ADP. Robert W. Baird increased their price target on Automatic Data Processing from $235.00 to $270.00 in a research report on Thursday, July 27th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Jefferies Financial Group increased their price objective on Automatic Data Processing from $240.00 to $260.00 in a report on Wednesday, July 26th. Mizuho decreased their price objective on Automatic Data Processing from $285.00 to $255.00 and set a “buy” rating for the company in a report on Tuesday, October 31st. Finally, Morgan Stanley decreased their price objective on Automatic Data Processing from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $248.42.

Automatic Data Processing Trading Up 0.9 %

Shares of NASDAQ ADP opened at $228.49 on Friday. The stock’s 50 day moving average price is $238.94 and its two-hundred day moving average price is $232.31. Automatic Data Processing has a 52-week low of $201.46 and a 52-week high of $274.92. The stock has a market capitalization of $93.98 billion, a P/E ratio of 27.17, a PEG ratio of 2.12 and a beta of 0.83. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.86.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.45%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.25. Automatic Data Processing’s dividend payout ratio is presently 59.45%.

Insider Buying and Selling

In related news, VP Don Mcguire sold 2,380 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $238.91, for a total transaction of $568,605.80. Following the completion of the sale, the vice president now directly owns 20,665 shares in the company, valued at $4,937,075.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Automatic Data Processing news, insider Carlos A. Rodriguez sold 58,864 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $250.42, for a total transaction of $14,740,722.88. Following the transaction, the insider now directly owns 44,859 shares in the company, valued at $11,233,590.78. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Don Mcguire sold 2,380 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $238.91, for a total value of $568,605.80. Following the transaction, the vice president now owns 20,665 shares in the company, valued at $4,937,075.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,420 shares of company stock worth $41,491,937. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Automatic Data Processing

Several hedge funds and other institutional investors have recently made changes to their positions in the business. OFI Invest Asset Management acquired a new stake in Automatic Data Processing during the third quarter worth about $25,000. Ten Capital Wealth Advisors LLC grew its position in Automatic Data Processing by 110.7% during the first quarter. Ten Capital Wealth Advisors LLC now owns 118 shares of the business services provider’s stock worth $26,000 after buying an additional 62 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Automatic Data Processing during the first quarter worth about $28,000. Coppell Advisory Solutions LLC acquired a new stake in Automatic Data Processing during the second quarter worth about $30,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Automatic Data Processing during the first quarter worth about $31,000. 79.37% of the stock is owned by institutional investors and hedge funds.

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.