We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
ADP Stock Rises 9% in Three Months: What You Should Know
Read MoreHide Full Article
Automatic Data Processing, Inc. (ADP - Free Report) shares have had an impressive run over the past three months. The stock has rallied 9.3% compared with the 6.7% rise of the industry it belongs to and the 3.2% decline of the Zacks S&P 500 composite.
Factors in Favor
ADP has an impressive earnings surprise history. Earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, delivering an average beat of 3.1%.
ADP has been able to accelerate DataCloud penetration and increase investment in inside sales, mid-market migrations and service alignment initiatives through its ongoing transformation initiatives. Through these initiatives, the company continues to innovate, improve operations, expand margins and enhance innovation abilities.
ADP maintains its strong position as a human capital management (HCM) technology and services provider. The company is focused on delivering a complete suite of cloud-based HCM and HR Outsourcing solutions. It is expanding its international HCM and HRO businesses with established local, in-country software solutions and cloud-based multi-country solutions.
ADP continues to pursue acquisitions that strategically fit its overall business mix and are easy to integrate over the long term. The recent acquisition of Sora enhanced the company’s ability to streamline HR processes through automation, combining Sora's user-friendly platform with its own HCM solutions for improved efficiency and employee experiences.
Zacks Rank and Other Stocks to Consider
ADP currently carries a Zacks Rank #2 (Buy).
The following top-ranked stocks from the Business Services sector are also worth consideration:
Verisk Analytics (VRSK - Free Report) beat the Zacks Consensus Estimate in three of the four previous quarters and matched on one instance, with an average surprise of 9.9%. The consensus mark for 2023 revenues is pegged at $2.66 billion, which reflects a decrease of 8.2% from the year-ago figure. Earnings are pegged at $5.71 per share for 2023, which is 14% above the year-ago figure. VRSK currently has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Broadridge (BR - Free Report) currently carries a Zacks Rank of 2. It beat the Zacks Consensus Estimate in two of the trailing four quarters, missed once and matched on one instance, the average surprise being 0.5%. The consensus estimate for fiscal 2024 revenues and earnings indicates a rise of 7.2% and 8.8% year over year, respectively.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
ADP Stock Rises 9% in Three Months: What You Should Know
Automatic Data Processing, Inc. (ADP - Free Report) shares have had an impressive run over the past three months. The stock has rallied 9.3% compared with the 6.7% rise of the industry it belongs to and the 3.2% decline of the Zacks S&P 500 composite.
Factors in Favor
ADP has an impressive earnings surprise history. Earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, delivering an average beat of 3.1%.
Automatic Data Processing, Inc. Price
Automatic Data Processing, Inc. price | Automatic Data Processing, Inc. Quote
ADP has been able to accelerate DataCloud penetration and increase investment in inside sales, mid-market migrations and service alignment initiatives through its ongoing transformation initiatives. Through these initiatives, the company continues to innovate, improve operations, expand margins and enhance innovation abilities.
ADP maintains its strong position as a human capital management (HCM) technology and services provider. The company is focused on delivering a complete suite of cloud-based HCM and HR Outsourcing solutions. It is expanding its international HCM and HRO businesses with established local, in-country software solutions and cloud-based multi-country solutions.
ADP continues to pursue acquisitions that strategically fit its overall business mix and are easy to integrate over the long term. The recent acquisition of Sora enhanced the company’s ability to streamline HR processes through automation, combining Sora's user-friendly platform with its own HCM solutions for improved efficiency and employee experiences.
Zacks Rank and Other Stocks to Consider
ADP currently carries a Zacks Rank #2 (Buy).
The following top-ranked stocks from the Business Services sector are also worth consideration:
Verisk Analytics (VRSK - Free Report) beat the Zacks Consensus Estimate in three of the four previous quarters and matched on one instance, with an average surprise of 9.9%. The consensus mark for 2023 revenues is pegged at $2.66 billion, which reflects a decrease of 8.2% from the year-ago figure. Earnings are pegged at $5.71 per share for 2023, which is 14% above the year-ago figure. VRSK currently has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Broadridge (BR - Free Report) currently carries a Zacks Rank of 2. It beat the Zacks Consensus Estimate in two of the trailing four quarters, missed once and matched on one instance, the average surprise being 0.5%. The consensus estimate for fiscal 2024 revenues and earnings indicates a rise of 7.2% and 8.8% year over year, respectively.