Why Is Software Megacap ADP's Stock Trading Higher Today? [Yahoo! Finance]
Automatic Data Processing, Inc. (ADP)
Last automatic data processing, inc. earnings: 4/29 06:56 am
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Source: Yahoo! Finance
The company reported quarterly adjusted EPS of $2.88, beating the analyst consensus of $2.79 . The stock price gained after the print. Adjusted EBIT increased 12% to $1.5 billion, and adjusted EBIT margin increased 140 bps to 29.3%. Net earnings increased 14% Y/Y to $1.2 billion, and adjusted net earnings increased 13% Y/Y to $1.2 billion. ADP held $3.3 billion in cash and equivalents as of March 31, 2024. "Healthy new business bookings and client retention contributed to our strong third quarter results," said Maria Black, ADP's President and Chief Executive Officer. FY24 Outlook: ADP reiterated its revenue growth outlook of 6%—7%, or $19.09 billion—$19.27 billion, versus the consensus of $19.15 billion, and adjusted diluted EPS growth of 10%—12%, or $9.05 – $9.22, versus the consensus of $9.13. The company affirmed Employer Services revenue growth of 7% -8 % and PEO Services revenue growth of 3%-4%. ADP stock gained 12% in the last 12 months. Investors can gain exposu
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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