Northcoast Research Weighs in on Automatic Data Processing’s FY2017 Earnings (ADP)

Automatic Data Processing (NYSE:ADP) – Investment analysts at Northcoast Research issued their FY2017 EPS estimates for shares of Automatic Data Processing in a research report issued to clients and investors on Thursday. Northcoast Research analyst K. Mehta forecasts that the business services provider will earn $3.72 per share for the year.

Several other research firms have also commented on ADP. Barclays PLC dropped their price target on shares of Automatic Data Processing from $115.00 to $113.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 25th. Royal Bank of Canada restated a “hold” rating and set a $99.00 price target on shares of Automatic Data Processing in a research report on Friday, January 20th. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a research report on Monday, January 30th. Stifel Nicolaus dropped their price target on shares of Automatic Data Processing from $105.00 to $95.00 and set a “hold” rating on the stock in a research report on Monday, January 30th. Finally, BMO Capital Markets restated a “hold” rating and set a $98.00 price target on shares of Automatic Data Processing in a research report on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $102.39.

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

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Shares of Automatic Data Processing (NYSE:ADP) traded down 0.2473% during trading on Monday, hitting $96.8399. 1,239,224 shares of the company’s stock were exchanged. Automatic Data Processing has a one year low of $84.36 and a one year high of $105.68. The stock has a market cap of $43.33 billion and a P/E ratio of 25.0556. The firm has a 50-day moving average price of $102.37 and a 200-day moving average price of $99.50.

Automatic Data Processing (NYSE:ADP) last announced its earnings results on Wednesday, May 3rd. The business services provider reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.08. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the prior year, the business posted $1.17 EPS. Automatic Data Processing’s revenue for the quarter was up 5.0% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Friday, June 9th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.35%. The ex-dividend date is Wednesday, June 7th.

In related news, CEO Carlos A. Rodriguez sold 79,606 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $98.95, for a total transaction of $7,877,013.70. Following the completion of the sale, the chief executive officer now directly owns 156,085 shares in the company, valued at $15,444,610.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John P. Jones III sold 5,688 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $104.46, for a total transaction of $594,168.48. Following the sale, the director now owns 49,611 shares of the company’s stock, valued at $5,182,365.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,125 shares of company stock valued at $9,608,495.

Large investors have recently added to or reduced their stakes in the company. Regal Investment Advisors LLC boosted its stake in shares of Automatic Data Processing by 20.3% in the third quarter. Regal Investment Advisors LLC now owns 8,325 shares of the business services provider’s stock worth $734,000 after buying an additional 1,402 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Automatic Data Processing by 2.8% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 70,171 shares of the business services provider’s stock worth $6,189,000 after buying an additional 1,882 shares in the last quarter. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Automatic Data Processing during the third quarter worth $568,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Automatic Data Processing by 0.4% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,446,430 shares of the business services provider’s stock worth $127,575,000 after buying an additional 5,160 shares in the last quarter. Finally, DnB Asset Management AS boosted its stake in shares of Automatic Data Processing by 6.9% in the third quarter. DnB Asset Management AS now owns 40,554 shares of the business services provider’s stock worth $3,577,000 after buying an additional 2,600 shares in the last quarter.

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.

5 Day Chart for NYSE:ADP

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