Automatic Data Processing, Inc reported strong fiscal third-quarter revenues, beating analyst expectations. This could potentially impact the stock price positively in the short term.
Stock AI’s forecasts:
🔴 -9.9% short-term
🟢 +1.0% long-term
Stock AI’s (ADP) Forecast get (+5.0% Profit)
StockAI’s analysis delivers real-world results. On 22 February 2024, $ADP ($254.26), StockAI predicted a long-term 🔴 sell signal. It was accurate: 1 month later price dropped to $241.5 (🔴-5.0%). Selling ADP on this signal yielded a +5.0% profit 💰💰.
ADP-Automatic Data Processing, Inc. News
🔴 Automatic Data Processing reported fiscal third-quarter 2024 revenues of $5.25 billion, beating analyst consensus by $0.02 billion.
🟢 Analysts expect ADP to post earnings of $2.77 per share for the quarter, showing potential positive growth.
🔴 Dana Investment Advisors Inc. boosted its holdings in ADP by 25.7% in the fourth quarter, which may indicate some investor uncertainty.
🔴 Two analysts have rated ADP stock with a sell rating, potentially causing some downward pressure on the price.
🟢 Zacks Research increased their FY2024 earnings per share estimates for ADP, showing positive outlook for the company.
🔴 Short interest in ADP declined by 9.1% in April, indicating potential bearish sentiment among investors.
Automatic Data Processing, Inc. has been experiencing a mix of positive and negative news recently, which could impact its stock price in both the short-term and long-term. The company’s strong revenue performance and positive earnings expectations may support a potential price increase, while analyst ratings and investor uncertainty could lead to some downside pressure. It will be important for investors to closely monitor these developments and consider all factors before making any investment decisions.
ADP-Automatic Data Processing, Inc. Analyst Ratings
📉 Zacks Research increased their FY2024 earnings per share estimates for Automatic Data Processing
📈 Barclays increased their price target on Automatic Data Processing stock from $280.00 to $282.00
📉 TD Cowen cut their target price on Automatic Data Processing stock from $253.00 to $251.00
Sources:
1. Zacks Research
2. Barclays
3. TD Cowen
Disclaimer
Investors may consider the AI predictions and news summaries as one factor in their investment decisions alongside their own research and risk tolerance.
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