ADP beats estimates as strong job market aids demand for payroll services [Reuters]
Automatic Data Processing, Inc. (ADP)
Last automatic data processing, inc. earnings: 4/29 06:56 am
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Source: Reuters
May 1 (Reuters) - Payroll processor Automatic Data Processing beat estimates for third-quarter revenue and profit on Wednesday, driven by steady demand for its payroll software and new bookings. U.S. job growth accelerated from through March, and the resilient demand has encouraged businesses to hire and retain employees, resulting in customers spending on payroll software including employee management services offered by companies like ADP. "Healthy new business bookings and client retention contributed to our strong results," said CEO Maria Black. The company's revenue stood at $5.25 billion for the quarter ended March 31, compared with analysts' estimates of $5.23 billion, according to LSEG data. Its adjusted earnings of $2.88 per share, came ahead of estimates of $2.79 per share. Revenue at company's employer services segment, which handles human resources outsourcing and employee management solutions, rose 8% to $3.59 billion from a year earlier. The company its full
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ADP
News
- ADP to Present at Upcoming Investor ConferencesPR Newswire
- Economic Moats: Switching Costs And The Network Effect [Seeking Alpha]Seeking Alpha
- Automatic Data Processing, Inc. (NASDAQ:ADP) Just Released Its Third-Quarter Results And Analysts Are Updating Their Estimates [Yahoo! Finance]Yahoo! Finance
- Automatic Data Processing, Inc. (NASDAQ: ADP) had its price target lowered by analysts at TD Cowen from $253.00 to $251.00. They now have a "hold" rating on the stock.MarketBeat
- Automatic Data Processing, Inc. (NASDAQ: ADP) had its price target lowered by analysts at JPMorgan Chase & Co. from $254.00 to $250.00. They now have an "underweight" rating on the stock.MarketBeat
ADP
Earnings
- 5/2/24 - Beat
ADP
Sec Filings
- 5/9/24 - Form 8-K
- 5/2/24 - Form 10-Q
- 5/1/24 - Form 8-K
- ADP's page on the SEC website