On August 18, Automatic Data Processing Inc rose 3.12% in regular trading, trading at $273.76/share, with turnover of $61.87 million.
On the news front, Indian media reported that KKR-backed HR and payroll services provider Darwinbox is receiving acquisition offers, with existing investors Salesforce, Microsoft, and ADP approaching the company's founders and board to acquire stakes held by other shareholders ahead of a planned IPO. The market views this as a signal of ADP accelerating its strategic expansion in global HR technology.
The news arrives amid strong fundamental momentum for ADP. The company reported fiscal Q4 adjusted EPS of $2.64, beating the consensus estimate of $2.60 by 1.54%, while revenue of $5.474 billion also exceeded the $5.437 billion estimate. Multiple institutions have recently raised price targets: Cantor Fitzgerald to $310, Argus to $300, and DA Davidson to $300, all maintaining buy ratings.
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