Automatic Data Processing (ADP) to Post Q4 2017 Earnings of $0.70 Per Share, Wedbush Forecasts

Automatic Data Processing (NYSE:ADP) – Wedbush issued their Q4 2017 earnings estimates for shares of Automatic Data Processing in a research report issued to clients and investors on Wednesday. Wedbush analyst M. Katri forecasts that the business services provider will earn $0.70 per share for the quarter.

Several other research analysts also recently issued reports on ADP. William Blair downgraded Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Friday. Barclays PLC downgraded Automatic Data Processing from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $110.00 to $105.00 in a research report on Tuesday, July 18th. BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) downgraded Automatic Data Processing from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $115.00 to $108.00 in a research report on Tuesday, June 20th. Finally, Evercore ISI restated an “underperform” rating and set a $85.00 price objective on shares of Automatic Data Processing in a research report on Friday, June 2nd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $98.43.

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Shares of Automatic Data Processing (NYSE ADP) opened at 104.58 on Friday. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $105.68. The stock has a market capitalization of $46.79 billion and a price-to-earnings ratio of 27.06. The stock has a 50 day moving average price of $102.19 and a 200-day moving average price of $101.71.

Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings results on Wednesday, May 3rd. The business services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.08. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.42 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.17 earnings per share.

A number of hedge funds have recently added to or reduced their stakes in ADP. Coconut Grove Bank boosted its stake in Automatic Data Processing by 79.6% in the first quarter. Coconut Grove Bank now owns 1,038 shares of the business services provider’s stock valued at $106,000 after buying an additional 460 shares during the last quarter. Grisanti Capital Management LLC boosted its stake in shares of Automatic Data Processing by 4.5% in the first quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock valued at $107,000 after buying an additional 45 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Automatic Data Processing during the first quarter valued at about $113,000. Harbour Capital Advisors LLC bought a new stake in shares of Automatic Data Processing during the first quarter valued at about $176,000. Finally, Guardian Life Insurance Co. of America boosted its stake in shares of Automatic Data Processing by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock valued at $178,000 after buying an additional 12 shares in the last quarter.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 49,392 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $100.01, for a total value of $4,939,693.92. Following the completion of the sale, the chief executive officer now directly owns 159,403 shares of the company’s stock, valued at approximately $15,941,894.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Donald Weinstein sold 1,933 shares of Automatic Data Processing stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total transaction of $197,127.34. Following the completion of the sale, the vice president now directly owns 25,737 shares of the company’s stock, valued at $2,624,659.26. The disclosure for this sale can be found here. Insiders sold a total of 54,257 shares of company stock valued at $5,435,827 over the last ninety days.

Automatic Data Processing Company Profile

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.