Stocks of Automatic Data Processing Inc. (NASDAQ:ADP) traded higher last session on Wall Street, down -0.48% to $242.09.
ADP stock price is now -0.88% away from the 50-day moving average and 2.00% away from the 200-day moving average. The market capitalization of the company currently stands at $99.45B.
With the price target enhanced from $217 to $243, BofA Securities Upgraded its rating from Underperform to Neutral for Automatic Data Processing Inc. (NASDAQ: ADP). , while ‘UBS’ rates the stock as ‘Neutral’
In other news, KUTAM SREENIVASA, Corp VP sold 368 shares of the company’s stock on Mar 04 ’24. The stock was sold for $90,900 at an average price of $247.01. Upon completion of the transaction, the Corp VP now directly owns 20,319 shares in the company, valued at $4.92 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 01 ’24, Corp. VP Albinson Brock sold 1,170 shares of the business’s stock. A total of $291,833 was realized by selling the stock at an average price of $249.43. This leaves the insider owning 4,025 shares of the company worth $0.97 million. A total of 0.51% of the company’s stock is owned by insiders.
During the past 12 months, Automatic Data Processing Inc. has had a low of $201.46 and a high of $256.84. As of last week, the company has a debt-to-equity ratio of 0.80, a current ratio of 1.01, and a quick ratio of 1.01. According to the stock market information, the enterprise value for the company is $101.12B, which is based on a 28.17 price-to-earnings ratio, a 2.58 price-to-earnings-growth ratio, and a beta of 0.79. The fifty day moving average price for ADP is $244.42 and a two-hundred day moving average price translates $237.49 for the stock.
The latest earnings results from Automatic Data Processing Inc. (NASDAQ: ADP) was released for Dec, 2023. According to the Staffing & Employment Services Company, earnings per share came in at $2.13, beating analysts’ expectations of $2.1 by 0.03. This compares to $1.95 EPS in the same period last year. The net profit margin was 19.14% and return on equity was 97.38% for ADP. The company reported revenue of $4.67 billion for the quarter, compared to $4.39 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.31 percent. For the current quarter, analysts expect ADP to generate $5.22B in revenue.
Automatic Data Processing Inc.(ADP) Company Profile
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. Its offerings include payroll services, benefits administration, talent management, HR management, workforce management, insurance, retirement, and compliance services, as well as integrated HCM solutions. The PEO Services segment provides HR outsourcing solution to businesses through a co-employment model. This segment offers employee benefits, protection and compliance, talent engagement, expertise, comprehensive outsourcing, and recruitment process outsourcing services. Automatic Data Processing, Inc. was founded in 1949 and is headquartered in Roseland, New Jersey.
