Separately, analysts at Bank of America (NYSE: BAC) initiated coverage on shares of Automatic Data Processing Incorporated in a research note to investors on Friday, March 9th. They set a “buy” rating on the stock.
Automatic Data Processing Incorporated traded down 0.37% on Wednesday, hitting $54.50. Automatic Data Processing Incorporated has a 52-week low of $44.72 and a 52-week high of $57.10. The company has a market cap of $26.736 billion and a price-to-earnings ratio of 20.19.
The company last announced its quarterly results on Tuesday, May 1st. It reported $0.92 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.91 EPS by $0.01. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts expect that Automatic Data Processing Incorporated will post $0.66 EPS next quarter.
Automatic Data Processing, Inc. (ADP) is engaged in providing business outsourcing solutions. ADP offers a range of human resource (HR), payroll, tax and benefits administration solutions from a single source.