Automatic Data Processing, Inc. (ADP) reports have pointed towards a significant Q4 earnings beat driven by segmental performance. The business has also noted a sharp 11.1% drop in short interest. However, insider selling has been reported with shares sold by Maria Black. Despite this, ADP remains a 'Dividend Aristocrat' and continues to pay out a 2.2% yield.
ADP recently beat analyst revenue and earnings estimates in Q3 FY24. In addition, the company also reported growth in Q2 of fiscal 2024 with both earnings and revenue climbing. As a result, the price target of ADP has been raised multiple times by different financial groups.
While there have been concerns about the company's slowing 2025 earnings growth making its shares less attractive, ADP is generally viewed as a good dividend growth stock to buy and hold according to analysts. Furthermore, institutional owners dominate 81% of the share ownership.
Automatic Data Processing ADP News Analytics from Fri, 03 Nov 2023 07:00:00 GMT to Sun, 18 Aug 2024 17:42:48 GMT - Rating 4 - Innovation 3 - Information 7 - Rumor 6
