Automatic Data Processing (NASDAQ:ADP) Releases FY 2021 Pre-Market Earnings Guidance

Automatic Data Processing (NASDAQ:ADP) issued an update on its FY 2021
Pre-Market earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 4.85-5.15 for the period, compared to the Thomson Reuters consensus estimate of $5.74. The company issued revenue guidance of $14.006-14.444 billion, compared to the consensus revenue estimate of $14.51 billion.Automatic Data Processing also updated its FY21 guidance to $4.85-$5.15 EPS.

A number of analysts have recently weighed in on the stock. Goldman Sachs Group initiated coverage on shares of Automatic Data Processing in a research note on Tuesday, July 14th. They issued a sell rating and a $146.00 price objective for the company. BidaskClub lowered shares of Automatic Data Processing from a hold rating to a sell rating in a report on Thursday, July 23rd. BMO Capital Markets cut their target price on shares of Automatic Data Processing from $179.00 to $154.00 and set a market perform rating for the company in a research note on Thursday, April 30th. Bank of America lowered shares of Automatic Data Processing from a neutral rating to an underperform rating and set a $132.00 target price for the company. in a report on Monday, May 18th. Finally, Zacks Investment Research lowered shares of Automatic Data Processing from a hold rating to a strong sell rating and set a $112.00 price target for the company. in a report on Friday. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $158.93.

ADP stock traded up $0.02 during midday trading on Friday, reaching $132.91. 3,408,510 shares of the company’s stock traded hands, compared to its average volume of 1,852,818. The company has a market cap of $57.12 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 2.22 and a beta of 0.82. The firm’s fifty day moving average price is $147.29 and its 200-day moving average price is $150.95. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.23. Automatic Data Processing has a 52 week low of $103.11 and a 52 week high of $182.32.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.18. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. Automatic Data Processing had a net margin of 16.91% and a return on equity of 46.66%. Automatic Data Processing’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 EPS. Analysts forecast that Automatic Data Processing will post 4.99 earnings per share for the current year.

In other news, VP Brian L. Michaud sold 250 shares of the company’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $145.00, for a total value of $36,250.00. Following the completion of the sale, the vice president now owns 5,162 shares in the company, valued at approximately $748,490. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

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.

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

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