Automatic Data Processing (NASDAQ:ADP) Releases FY24 Earnings Guidance

Automatic Data Processing (NASDAQ:ADP) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $9.05-$9.22 for the period, compared to the consensus estimate of $9.12. The company issued revenue guidance of $19.08-$19.26 billion, compared to the consensus revenue estimate of $19.15 billion. Automatic Data Processing also updated its FY 2024 guidance to 9.050-9.220 EPS.

Automatic Data Processing Stock Down 0.1 %

ADP stock traded down $0.14 during mid-day trading on Friday, reaching $241.89. The company had a trading volume of 1,491,532 shares, compared to its average volume of 1,451,137. The firm has a fifty day simple moving average of $245.91 and a 200 day simple moving average of $239.13. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $99.37 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78. Automatic Data Processing has a fifty-two week low of $205.53 and a fifty-two week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.52 earnings per share. Analysts forecast that Automatic Data Processing will post 9.15 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.32%. Automatic Data Processing’s payout ratio is currently 62.50%.

Analysts Set New Price Targets

A number of analysts recently issued reports on ADP shares. TD Cowen decreased their target price on Automatic Data Processing from $253.00 to $251.00 and set a hold rating for the company in a research report on Thursday. Royal Bank of Canada reissued a sector perform rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. Barclays upped their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an overweight rating in a research report on Thursday. Evercore ISI increased their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an underperform rating in a research note on Tuesday, March 26th. Finally, StockNews.com lowered shares of Automatic Data Processing from a buy rating to a hold rating in a research report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $255.42.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the sale, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP David Kwon sold 863 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the sale, the vice president now directly owns 8,285 shares in the company, valued at $2,071,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now owns 17,179 shares of the company’s stock, valued at $4,380,645. The disclosure for this sale can be found here. Insiders have sold 3,829 shares of company stock valued at $965,274 in the last quarter. 0.26% of the stock is currently owned by corporate insiders.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.