Brokers Issue Forecasts for Automatic Data Processing’s Q2 2019 Earnings (ADP)

Automatic Data Processing (NASDAQ:ADP) – Analysts at Jefferies Financial Group lifted their Q2 2019 earnings per share estimates for Automatic Data Processing in a report issued on Wednesday, October 31st. Jefferies Financial Group analyst S. Samana now forecasts that the business services provider will earn $1.23 per share for the quarter, up from their previous forecast of $1.20. Jefferies Financial Group currently has a “Hold” rating and a $167.00 target price on the stock. Jefferies Financial Group also issued estimates for Automatic Data Processing’s Q3 2019 earnings at $1.69 EPS, Q4 2019 earnings at $1.18 EPS, FY2019 earnings at $5.30 EPS, Q1 2020 earnings at $1.38 EPS, Q2 2020 earnings at $1.42 EPS, Q3 2020 earnings at $1.91 EPS, Q4 2020 earnings at $1.41 EPS, FY2020 earnings at $6.12 EPS and Q1 2021 earnings at $1.67 EPS.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 31st. The business services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.11 by $0.09. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.28 billion. Automatic Data Processing had a return on equity of 50.96% and a net margin of 12.71%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.94 earnings per share.

Other equities analysts have also issued reports about the company. Wolfe Research initiated coverage on Automatic Data Processing in a report on Tuesday, July 17th. They issued an “outperform” rating for the company. Credit Suisse Group initiated coverage on Automatic Data Processing in a report on Friday, August 10th. They issued an “outperform” rating and a $160.00 target price for the company. BMO Capital Markets reduced their target price on Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating for the company in a report on Thursday. Citigroup upped their target price on Automatic Data Processing from $137.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday. Finally, BidaskClub lowered Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 1st. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Automatic Data Processing has an average rating of “Buy” and an average price target of $148.69.

Shares of Automatic Data Processing stock opened at $140.72 on Friday. The company has a market capitalization of $61.56 billion, a PE ratio of 30.39, a P/E/G ratio of 2.14 and a beta of 0.91. Automatic Data Processing has a 52 week low of $107.61 and a 52 week high of $153.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.03 and a quick ratio of 1.05.

In other Automatic Data Processing news, VP Don Mcguire sold 1,140 shares of the stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $145.78, for a total transaction of $166,189.20. Following the completion of the transaction, the vice president now directly owns 6,476 shares of the company’s stock, valued at $944,071.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael A. Bonarti sold 2,334 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $144.77, for a total value of $337,893.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,919 shares of company stock valued at $2,351,933. 0.33% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Atlantic Trust LLC purchased a new stake in shares of Automatic Data Processing during the second quarter worth $104,000. Integrated Investment Consultants LLC purchased a new stake in shares of Automatic Data Processing during the second quarter worth $111,000. Jolley Asset Management LLC purchased a new stake in shares of Automatic Data Processing during the second quarter worth $117,000. Fort L.P. purchased a new stake in shares of Automatic Data Processing during the second quarter worth $119,000. Finally, Willingdon Wealth Management lifted its position in shares of Automatic Data Processing by 328.5% during the third quarter. Willingdon Wealth Management now owns 857 shares of the business services provider’s stock worth $129,000 after acquiring an additional 657 shares in the last quarter. 77.89% of the stock is 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.

Further Reading: Moving Average (MA)

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply