Zacks: Brokerages Anticipate Automatic Data Processing (NASDAQ:ADP) to Announce $1.13 Earnings Per Share

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Equities research analysts expect Automatic Data Processing (NASDAQ:ADP) to post $1.13 earnings per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Automatic Data Processing’s earnings. The highest EPS estimate is $1.15 and the lowest is $1.12. Automatic Data Processing posted earnings per share of $0.92 in the same quarter last year, which indicates a positive year-over-year growth rate of 22.8%. The company is expected to report its next earnings report before the market opens on Wednesday, July 31st.

On average, analysts expect that Automatic Data Processing will report full year earnings of $5.44 per share for the current financial year, with EPS estimates ranging from $5.42 to $5.49. For the next financial year, analysts forecast that the firm will report earnings of $6.02 per share, with EPS estimates ranging from $5.85 to $6.20. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Automatic Data Processing.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.08. Automatic Data Processing had a return on equity of 50.53% and a net margin of 13.76%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the previous year, the company posted $1.57 EPS. The business’s quarterly revenue was up 4.2% compared to the same quarter last year.

A number of research analysts have recently weighed in on ADP shares. Sanford C. Bernstein cut Encana from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. Barclays lifted their price objective on WEX from $222.00 to $238.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. BidaskClub cut Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a report on Monday, June 24th. Citigroup cut BCE from a “buy” rating to a “neutral” rating in a report on Thursday, May 2nd. Finally, Zacks Investment Research cut Gold Resource from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $167.00.

Shares of ADP stock traded up $1.48 during trading hours on Wednesday, reaching $167.94. 33,077 shares of the company traded hands, compared to its average volume of 2,395,446. Automatic Data Processing has a 12-month low of $121.40 and a 12-month high of $170.45. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $72.45 billion, a P/E ratio of 38.60, a P/E/G ratio of 2.13 and a beta of 0.90. The stock’s 50-day moving average price is $164.89.

In other news, VP Dermot J. O’brien sold 1,771 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total transaction of $286,972.84. Following the sale, the vice president now directly owns 14,896 shares of the company’s stock, valued at approximately $2,413,747.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Donald Weinstein sold 1,706 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $165.01, for a total value of $281,507.06. Following the sale, the vice president now directly owns 26,220 shares in the company, valued at $4,326,562.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,749 shares of company stock worth $5,068,360. 0.33% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Lake Point Wealth Management bought a new stake in Automatic Data Processing in the fourth quarter valued at about $26,000. Horan Capital Advisors LLC. acquired a new stake in Automatic Data Processing in the first quarter worth $31,000. Paragon Capital Management LLC acquired a new stake in Automatic Data Processing in the first quarter worth $32,000. C J Advisory Inc acquired a new stake in Automatic Data Processing in the first quarter worth $32,000. Finally, Cypress Capital Management LLC WY raised its holdings in Automatic Data Processing by 257.1% in the first quarter. Cypress Capital Management LLC WY now owns 200 shares of the business services provider’s stock worth $32,000 after purchasing an additional 144 shares during the period. 79.71% of the stock is currently owned by institutional investors and hedge funds.

About Automatic Data Processing

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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