Baird Downgrades ADP (ADP) to Neutral

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Go back to Baird Downgrades ADP (ADP) to Neutral

ADP (ADP) Tops Q4 EPS by 2c

July 28, 2016 7:07 AM EDT

ADP (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