Company Update: Automatic Data Processing Inc (NASDAQ:ADP) – ADP Study Shows Employers Lack Understanding of New U.S. Tax Forms, the First Major Form Since W-2 and the Latest Requirement Associated With the Affordable Care Act

[Marketwired] – A new ADP study reveals employer and employee confusion about the first new major tax-filing forms that the U.S. government has introduced in more than 70 years — one form will be required by millions … Read more on this. Automatic Data Processing, Inc. (ADP) , with a current market cap of $36.43B, opened this morning at $77.60. Today’s price range has been between $77.50 and $79.51 per share with a trailing 52-week range being $64.29 to $90.67. ADP shares are currently priced at 23.80x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 24.62x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $2.12 per share annually in dividends, yielding 2.70%. In a review of the consensus earnings estimate this quarter, 20 sell-side analysts are looking at $0.72 per share, which would be $0.02 better than the year-ago quarter and a $0.01 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $3.25 would be a $0.36 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.81 Billion. If realized, that would be a 5.64% increase over the year-ago quarter. In terms of ratings, Stifel downgraded ADP from Buy to Hold (Dec 5, 2014). Previously, Topeka Capital Markets Initiated ADP at to Sell. When considering if the stock is under or overvalued, the average price target is $88.23, which is 13.70% above where the stock opened this morning. See more in (NASDAQ:ADP) Similar Articles: Company Update: Automatic Data Processing Inc (NASDAQ:ADP) – ADP(R) Workforce Vitality Report Shows Accelerated Wage Growth in Q3 2015 Market Update: Automatic Data Processing Inc (NASDAQ:ADP) – ADP Marketplace Celebrates Its First Anniversary of Unlocking Innovation for the Human Capital Management Industry Stock Update: Automatic Data Processing Inc (NASDAQ:ADP) – Florida Added 13,700 Private Sector Jobs in July, According to ADP Regional Employment Report(R)