Equity research analysts for Automatic Data Processing, Inc. (NASDAQ: ADP) decreased their expectations for Automatic Data Processing’s Q1 2023 earnings per share in a research note released by Jefferies Financial Group on Monday, October 17. (EPS). The earnings per share for the business services provider’s most recent quarter have been revised downward by S. Samana, an analyst at Jefferies Financial Group, from $1.89 to $1.79. Automatic Data Processing’s anticipated yearly profits per share are at $8.05. According to Jefferies Financial Group, Automatic Data Processing will make $8.94 in profits per share in the upcoming fiscal year.
Automatic Data Processing (NASDAQ: ADP) published its most recent quarterly results report on Wednesday, July 27. The corporation that provides business services announced $1.50 in quarterly profits per share, $0.02 more than the $1.48 that analysts had collectively predicted. Analysts had forecasted $4.05 billion in sales for the corporation during the quarter; nevertheless, $4.13 billion was made. The net margin for Automatic Data Processing was 17.87%, and the return on equity was 66.25%. The company’s sales for the quarter climbed by 10.5% compared to the same period last year. EPS during the same period a year ago was $1.20 for the company.
The NASDAQ ADP stock started trading at $233.24 on Thursday. The company’s debt-to-equity ratio, quick ratio, and current ratio are all 0.99. The firm is valued at $96.86 billion and has a PE ratio of 33.27, a PEG of 2.41, and a beta of 0.82. Its market value is $96.86 billion. Automatic Data Processing has a 52-week range of $192.26 and $261.59. The company’s 200-day and 50-day simple moving averages are $239.99.
Many more scientific projects have centered on ADP. In a research note released on July 20, Wolfe Research lowered their price target on shares of Automatic Data Processing from $235.00 to $210.00 in a research note. In a research note published on August 1, Mizuho raised its “buy” rating and target price on Automatic Data Processing shares from $250 to $257. On Tuesday, September 20, Cowen boosted their study’s automatic data processing price objective from $230.00 to $236.00. Morgan Stanley raised their price target on Automatic Data Processing from $235.00 to $245.00 in a research report released on Thursday, July 28, and rated the stock “equal weight.” The official launch of StockNews.com’s coverage of autonomous data processing was on Wednesday, October 12. They rated the stock as a “keep.” Shares of the company have a buy rating from two research analysts and a hold rating from nine analysts. According to Bloomberg, the company now has a consensus “Hold” rating and an average price objective of $236.85.
The company also announced a quarterly dividend, which was paid on Saturday, October 1. Shareholders who owned shares as of Friday, September 9, received a dividend payment of $1.04 per share. The ex-dividend date for this dividend was September 8, a Thursday. This yield is 1.78% and a $4.16 dividend value per year. Currently, automatic data processing has a payout ratio of 59.34%.
In related news, vice president Donald Weinstein sold 10,150 company stock on Monday, August 8. The shares were sold at an average price of $250 per share for a total price of $2,537,500. As a result of the transaction, the vice president now directly owns 41,035 company shares, valued at $10,258,750. You can obtain information about the sale in a file from the Securities & Exchange Commission by clicking on this link. In related news, VP Laura G. Brown sold 252 company shares on Monday, October 3. The shares were sold for $57,000.00, averaging $228.35 per share. The vice president is the immediate owner of 6,016 shares of the firm, with a total market value of approximately $1,373,753.60. A court document submitted to the SEC and made available on the SEC website made the transaction public. Vice President Donald Weinstein also sold 10,150 shares of the company’s stock on August 8. The stock was sold at an average price of $250.00 for a total transaction of $2,537,500.00. Following the deal’s completion, the vice president will hold directly 41,035 shares of company stock, valued at $10,258,750. The disclosure for this sale is available here. Insiders just sold 107,034 company shares for a total of $25,514,241, decreasing their ownership stake in the business by that amount to 0.33%.