ADP

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We cut our 12-month target price by $29 to $236 on a 26x multiple applied to our updated FY 2024 (Jun.) EPS estimate, slightly below ADP’s five-year historical forward average. We think a reduced multiple is reasonable in light of Q2 guidance for modest margin compression. We cut our FY 2024 EPS estimate by $0.05 to $9.09 but raise FY 2025’s by $0.13 to $10.06. ADP reported FQ1 (Jun.) EPS of $2.08 vs. $1.86, beating the consensus view by $0.06. Q1 revenues of $4.5 billion (+7% Y/Y) were essentially in line with consensus. ADP noted that its Professional Employer Organization (PEO) business saw margins narrow by 90 bps in Q1 (year-over-year). With higher selling expenses looming, as well as a deceleration in pays per control, management sees […]

Automatic Data Processing (NASDAQ:ADP) Q4 Adj EPS $1.89 Beats $1.83 Estimate, Sales $4.48B Beat $4.39B Estimate.

Automatic Data Processing (NASDAQ:ADP)  For fiscal 2024, Automatic Data Processing said it expects 10% to 12% in adjusted EPS growth and 6% to 7% in revenue growth. Analysts polled by Capital IQ forecast adjusted EPS of $8.92 on revenue of $18.98 billion.

Automatic Data Processing (NASDAQ:ADP) reported fiscal Q4 adjusted earnings  of $1.89 per diluted share, up from $1.50 per share a year earlier. Analysts polled by Capital IQ expected adjusted EPS of $1.83. Revenue for the quarter ended June 30 was $4.48 billion, compared with $4.13 billion a year earlier. Analysts surveyed by Capital IQ estimated $4.39 billion. For fiscal 2024, Automatic Data Processing said it expects 10% to 12% in adjusted EPS growth and 6% to 7% in revenue growth. Analysts polled by Capital IQ forecast adjusted EPS of $8.92 on revenue of $18.98 billion.