Streetbeat News

ADP

Automatic Data Processing, Inc.

https://www.adp.com

Industry

Staffing & Employment Services

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, 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 solutions to small and mid-sized businesses through a co-employment model. This segment offers benefits package, protection and compliance, talent engagement, expertise, comprehensive outsourcing, and recruitment process outsourcing services. The company was founded in 1949 and is headquartered in Roseland, New Jersey.

Open

289.20

Mkt cap

119B

Volume

1.4M

High

292.56

P/E Ratio

30.39

52-wk high

322.84

Low

289.20

Div yield

0.02

52-wk low

231.27

Evercore ISI Group analyst David Togut maintains an Underperform rating on Automatic Data Processing (ADP) but raises the price target from $227 to $235.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 3:04 pm

Over the past 20 years, Automatic Data Processing (NASDAQ:ADP) has produced an average annual return of 9.19%, outperforming the market. A $1000 investment in ADP 20 years ago would be worth $5,824.64 today. ADP's market capitalization currently stands at $101.72 billion.

Portfolio Pulse from Benzinga Insights

March 25, 2024 | 7:30 pm

Mizuho analyst Dan Dolev has maintained a Buy rating on Automatic Data Processing (ADP) and increased the price target from $265 to $272.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 11:36 am

President Joe Biden proposed a tax overhaul targeting billionaires like Elon Musk and Jeff Bezos in his State of the Union address, aiming to invest in various sectors. Fed Chair Jerome Powell provided an optimistic outlook on the U.S. economy, anticipating strong growth and a robust labor market. Asia's emerging markets, led by TSMC and Samsung, are recovering, driven by tech stocks. Natural gas prices surged as EQT Corporation, the largest U.S. producer, cut output. Employment growth in February, as reported by ADP, missed forecasts, indicating a slowdown in the labor market.

Portfolio Pulse from Benzinga Neuro

March 10, 2024 | 11:55 am

Automatic Data Processing (NYSE:ADP) has seen a 22.34% increase in its short percent of float since the last report, with 4.71 million shares sold short, representing 1.15% of available shares. It would take about 3.05 days to cover these short positions. The rise in short interest can indicate a bearish market sentiment towards ADP, although it has less short interest compared to its peer group average of 5.79%.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 5:15 pm

The article discusses the current state of the stock market, focusing on Apple Inc (AAPL) reaching a critical support level and the anticipation of Federal Reserve Chair Powell's testimony. It highlights the aggressive buying of tech stocks, crypto, and other assets by the 'momo crowd' in hopes of dovish remarks from Powell. The article also mentions positive early trade money flows in several major tech companies and ETFs, while Tesla Inc (TSLA) experiences negative flows. Additionally, it covers the buying of gold and oil by the momo crowd and provides general investment advice.

Portfolio Pulse from The Arora Report

March 06, 2024 | 5:03 pm

In February, U.S. private employment grew by 140,000 jobs, missing forecasts and indicating a slowdown in labor market dynamics. The ADP report showed a slight increase from January's revised 107,000 but fell short of the expected 150,000. This comes ahead of a national jobs report, which is anticipated to show a decrease in non-farm payroll growth. The report highlighted a slowdown in wage growth, with job-stayers and job-changers seeing reduced pay increases. Following the release, the U.S. Dollar Index fell slightly, while U.S. equity futures rose, indicating market expectations of a potential Fed rate cut.

Portfolio Pulse from Piero Cingari

March 06, 2024 | 1:29 pm

Automatic Data Processing (NASDAQ:ADP) received indifferent ratings from 4 analysts in the latest quarter, with no change in sentiment over the last 30 days. The 12-month price targets show an average of $248.75, marking a 14.63% increase from the previous $217.00 average. Analysts from RBC Capital, B of A Securities, Stifel, and UBS provided insights, with price targets ranging from $235.00 to $267.00. ADP's financial performance is strong, with a revenue growth rate of 5.79%, a net margin of 19.94%, an ROE of 24.62%, and an ROA of 1.71%, indicating efficient cost management and financial health.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 5:00 pm

RBC Capital analyst Ashish Sabadra has reiterated a 'Sector Perform' rating on Automatic Data Processing (ADP) and maintained a price target of $267.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 3:40 pm

Ahead of the FOMC meeting, the Nasdaq 100 and S&P 500 fell due to disappointing earnings from tech companies like Alphabet and AMD. The ADP National Employment Report showed slower job growth, and the VIX rose. Treasury yields fell, boosting the iShares 20+ Year Treasury Bond ETF. The SPDR S&P Regional Banking ETF dropped after New York Community Bancorp reported a loss. Other stocks moved on earnings reports, with Boeing rallying on strong results.

Portfolio Pulse from Piero Cingari

January 31, 2024 | 5:45 pm

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