Northcoast Research Research Analysts Boost Earnings Estimates for Automatic Data Processing (ADP)
Automatic Data Processing (NASDAQ:ADP) – Investment analysts at Northcoast Research upped their FY2019 earnings per share estimates for shares of Automatic Data Processing in a report issued on Thursday, May 2nd. Northcoast Research analyst K. Mehta now forecasts that the business services provider will post earnings per share of $5.43 for the year, up from their previous estimate of $5.35. Northcoast Research also issued estimates for Automatic Data Processing’s Q4 2019 earnings at $1.12 EPS.
Several other brokerages have also commented on ADP. Sanford C. Bernstein lowered Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Tuesday. BidaskClub lowered Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Citigroup raised their target price on Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Zacks Investment Research upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Automatic Data Processing currently has an average rating of “Hold” and an average price target of $154.50.
Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $1.77 EPS for the quarter, beating the consensus estimate of $1.69 by $0.08. Automatic Data Processing had a return on equity of 51.92% and a net margin of 13.12%. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the business posted $1.57 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.79 dividend. The ex-dividend date is Thursday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 1.98%. Automatic Data Processing’s dividend payout ratio (DPR) is 72.64%.
In other Automatic Data Processing news, insider Jan Siegmund sold 27,272 shares of Automatic Data Processing stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $165.00, for a total transaction of $4,499,880.00. Following the completion of the transaction, the insider now owns 77,595 shares in the company, valued at approximately $12,803,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Douglas W. Politi sold 6,035 shares of Automatic Data Processing stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $145.01, for a total value of $875,135.35. Following the transaction, the vice president now owns 28,829 shares of the company’s stock, valued at approximately $4,180,493.29. The disclosure for this sale can be found here. Insiders sold a total of 112,578 shares of company stock valued at $17,078,216 in the last 90 days. 0.33% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WESPAC Advisors SoCal LLC raised its stake in shares of Automatic Data Processing by 7,029.3% during the 1st quarter. WESPAC Advisors SoCal LLC now owns 35,290 shares of the business services provider’s stock valued at $5,637,000 after buying an additional 34,795 shares during the last quarter. Cornerstone Advisors Inc. raised its stake in shares of Automatic Data Processing by 259.4% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,258 shares of the business services provider’s stock valued at $201,000 after buying an additional 908 shares during the last quarter. Alpha Omega Wealth Management LLC raised its stake in shares of Automatic Data Processing by 12.4% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 1,265 shares of the business services provider’s stock valued at $202,000 after buying an additional 140 shares during the last quarter. Lenox Wealth Management Inc. purchased a new position in shares of Automatic Data Processing during the 1st quarter valued at about $40,000. Finally, Executive Wealth Management LLC raised its stake in shares of Automatic Data Processing by 0.6% during the 1st quarter. Executive Wealth Management LLC now owns 28,472 shares of the business services provider’s stock valued at $4,548,000 after buying an additional 171 shares during the last quarter. Institutional investors and hedge funds own 80.47% of the company’s stock.
Automatic Data Processing Company Profile
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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