ADP Reports Fourth Quarter and Fiscal 2016 Results; Provides Fiscal 2017 Outlook
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Baird Downgrades ADP (ADP) to Neutral
July 29, 2016 8:37 AM EDTBaird downgraded ADP (NASDAQ: ADP) from Outperform to Neutral with a price target of $94 (unchanged).
For an analyst ratings summary and ratings history on ADP click here. For more ratings news on ADP click here.
Shares of ADP closed at $91.73 yesterday.
... MoreADP (ADP) Tops Q4 EPS by 2c
July 28, 2016 7:07 AM EDTADP (NASDAQ: ADP) reported Q4 EPS of $0.69, $0.02 better than the analyst estimate of $0.67. Revenue for the quarter came in at $2.9 billion versus the consensus estimate of $2.94 billion.
Our results reflect our continued ability to adapt across the HCM product and service spectrum to the dynamic and ever changing needs of our clients, said Carlos Rodriguez, president and chief executive officer, ADP. We were very pleased with our strong new business bookings and the contribution from products that assist businesses in complying with the Affordable Care Act, or ACA. We believe our investments in the... More
