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Is Automatic Data Processing (ADP) Stock Outpacing Its Business Services Peers This Year?
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Investors focused on the Business Services space have likely heard of Automatic Data Processing (ADP - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Automatic Data Processing is one of 210 individual stocks in the Business Services sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ADP is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ADP's full-year earnings has moved 12.55% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ADP has returned about 1.55% since the start of the calendar year. At the same time, Business Services stocks have lost an average of 4.36%. This means that Automatic Data Processing is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ADP belongs to the Outsourcing industry, a group that includes 14 individual stocks and currently sits at #113 in the Zacks Industry Rank. This group has gained an average of 5.56% so far this year, so ADP is slightly underperforming its industry in this area.
Going forward, investors interested in Business Services stocks should continue to pay close attention to ADP as it looks to continue its solid performance.
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Is Automatic Data Processing (ADP) Stock Outpacing Its Business Services Peers This Year?
Investors focused on the Business Services space have likely heard of Automatic Data Processing (ADP - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Automatic Data Processing is one of 210 individual stocks in the Business Services sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ADP is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ADP's full-year earnings has moved 12.55% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ADP has returned about 1.55% since the start of the calendar year. At the same time, Business Services stocks have lost an average of 4.36%. This means that Automatic Data Processing is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ADP belongs to the Outsourcing industry, a group that includes 14 individual stocks and currently sits at #113 in the Zacks Industry Rank. This group has gained an average of 5.56% so far this year, so ADP is slightly underperforming its industry in this area.
Going forward, investors interested in Business Services stocks should continue to pay close attention to ADP as it looks to continue its solid performance.