Revenue Update on Automatic Data Processing(NASDAQ:ADP)

Automatic Data Processing(NASDAQ:ADP) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $2.90B. Analysts estimated a revenue of $2.93B. Earnings per share were $0.69. Analysts had estimated an EPS of $0.67.

In a different note, On Jul 11, 2016, Bernstein said it Upgrades its rating on Automatic Data Processing. The shares have been rated ‘Outperform’ by the firm. On May 3, 2016, Argus Research said it Maintains its rating on Automatic Data Processing. In the research note, the firm Raises the price-target to $96.00 per share. The shares have been rated ‘Buy’ by the firm.

Automatic Data Processing (ADP) made into the market gainers list on Thursdays trading session with the shares advancing 0.25% or 0.22 points. Due to strong positive momentum, the stock ended at $88.41, which is also near the day’s high of $88.66. The stock began the session at $88.11 and the volume stood at 14,84,048 shares. The 52-week high of the shares is $96 and the 52 week low is $64.29. The company has a current market capitalization of $40,274 M and it has 45,55,34,800 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 12, 2016, Jan Siegmund (Corporate Vice President) sold 3,292 shares at $95.00 per share price.Also, On Jul 12, 2016, Carlos A Rodriguez (President & CEO) sold 67,064 shares at $95.00 per share price.On Jul 5, 2016, Brock Albinson (Corp. VP) sold 378 shares at $92.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Automatic Data Processing Inc. (ADP) is a provider of human capital management (HCM) solutions and business process outsourcing. The Company operates through two segments: Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled HCM solutions. These offerings include payroll services benefits administration recruiting and talent management human resources management insurance services retirement services and payment and compliance solutions. The Company’s PEO business ADP TotalSource offers small and mid-sized businesses human resources (HR) outsourcing solution through a co-employment model. ADP TotalSource includes HR management and employee benefits functions including HR administration employee benefits and employer liability management into a single-source solution including HR administration employee benefits and employer liability management.

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