Why Automatic Data Processing Stock Is Jumping Today
Automatic Data Processing (NASDAQ: ADP) stock is gaining ground Wednesday despite pressures from the broader market. The company's share price was up 1.7% as of 3:30 p.m. ET amid a 0.5% decline for the S 500 index and a 0.7% drop for the Nasdaq Composite index. The stock had been up as much as 4.5% earlier in the day.
Before the market opened this morning, ADP published results for the second quarter of its current fiscal year, which ended Dec. 31. In addition to sales and earnings performance that beat the average analyst estimate, the company also delivered forward sales guidance that beat Wall Street's forecast and raised its outlook on some other metrics.
ADP reported non-GAAP (adjusted) earnings per share of $2.35 on sales of $5 billion for last quarter, beating the average Wall Street estimate's target for per-share earnings of $2.30 on sales of $4.96 billion. ADP's revenue climbed roughly 8% year over year in the period, and margins came in stronger than anticipated.
Source Fool.com
Automatic Data Processing Inc Stock
We see a rather positive sentiment for Automatic Data Processing Inc with 11 Buy predictions and 1 Sell predictions.
As a result the target price of 284 € shows a slightly positive potential of 9.55% compared to the current price of 259.25 € for Automatic Data Processing Inc.
