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Automatic Data Processing, Inc. (ADP - Free Report) is benefiting from a robust business model that generates recurring revenues along with both internal growth and strategic acquisitions. However, low liquidity remains a concern.
Automatic Data Processing reported better-than-expected third-quarter fiscal 2023 results. Adjusted earnings per share of $2.52 (excluding 1 cent from non-recurring items) beat the Zacks Consensus Estimate by 4.1% and grew 14% from the year-ago fiscal quarter’s figure. Total revenues of $4.9 billion beat the consensus estimate by 0.9% and improved 9.2% from the year-ago fiscal quarter’s reading on a reported basis and 10% on an organic constant-currency basis.
Current situation of ADP
ADP's robust business model is characterized by high recurring revenues, strong margins, excellent client retention, low capital expenditure and a formidable cash-generating ability, which enables it to pursue growth opportunities in promising areas.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand picked 7 your immediate attention.
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