Automatic Data Processing rises on Q2 results beat

Automatic Data Processing

31/01/2024 13:17

** Shares of payroll processor Automatic Data Processing
 ADP.O  rise 2.3% to $244 premarket
    ** Co. posts Q2 revenue of $4.67 bln; above Wall Street view
of $4.66 bln - LSEG data
    ** Quarterly adj. EPS of $2.13 was above analysts' estimate
of $2.10
    ** Co. expects FY24 revenue growth of 6% to 7% and adj. EPS
growth of 10% to 12%
    ** Three of 19 brokerages rate the stock "buy" or higher, 14
"hold" and two "sell"; their median PT is $250
    ** In 2023, ADP stock lost ~2.5%

 (Reporting by Khushi Singh)
 ((Khushi.Singh@thomsonreuters.com;))