Automatic Data Processing Inc Stock Price, News & Analysis

The board of Automatic Data Processing (ADP) has declared a quarterly dividend of $1.25 per share. This dividend will be payable on July 1, 2023, to shareholders of record on June 9, 2023. This decision reflects ADP's commitment to returning value to its shareholders amidst its focus on delivering innovative HR, payroll, and benefits solutions.

ADP National Employment Report indicates that private sector employment rose by 145,000 jobs in March, while annual pay saw a 6.9% year-over-year increase. The report, utilizing anonymized payroll data from over 25 million U.S. employees, shows signs of a slowing economy as employers reduce hiring following strong growth in previous months. Notably, pay growth for job stayers decreased from 7.2% to 6.9%, and job changers experienced a drop from 14.4% to 14.2%. The February jobs data was revised upward from 242,000 to 261,000.

The inaugural ADP Canada Happiness@Work Index reports a National Work Happiness Score of 6.7/10 for March 2023, aligning with prior benchmarks from November 2022 to February 2023. Key happiness factors include overall satisfaction, work-life balance, and recognition. The primary indicator scored 7.0, reflecting a slight rise from 6.8 in February. Half of respondents express high satisfaction with their roles. Generational findings reveal Boomers scored 7.3, whereas Gen-Z scored 6.8. The Index aims to track evolving worker sentiments monthly and will next publish results on April 26, 2023.

ADP (Nasdaq: ADP) plans to release its financial results for the third fiscal quarter ending March 31, 2023, on April 26, 2023, prior to the Nasdaq opening. A conference call will follow at 8:30 a.m. ET, featuring CEO Maria Black, CFO Don McGuire, and VP of Investor Relations Danyal Hussain. ADP has shifted from traditional news wire services to posting results directly on its investor relations website, ensuring that stakeholders are alerted when materials are available for public access.

On March 8, 2023, ADP reported a rise of 242,000 jobs in private sector employment for February, with annual pay up 7.2% year-over-year. The report, derived from over 25 million U.S. employee payroll records, indicates strong job growth despite a slight decrease in wage growth. Nela Richardson, ADP's chief economist, noted that while hiring remains robust, elevated pay growth may not significantly curb inflation in the near term. The report highlights industry-level job changes, regional differences, and employment trends by establishment size.

ADP, a leader in human capital management solutions, announced new sponsorships with the Advocates Pro Golf Association (APGA) and U.S. Paralympian Noelle Lambert on February 8, 2023. ADP aims to promote equity and inclusion in sports, enhancing its Team ADP athlete roster, which includes prominent players from the golf world. As the Official HR and Payroll Provider for the APGA Tour, ADP will support initiatives like the Elite Player Combines and youth development programs. This collaboration aligns with ADP's commitment to innovation and success through diverse experiences, underscoring its dedication to community engagement and athlete support.

In January 2023, the ADP National Employment Report revealed a rise of 106,000 jobs in private sector employment, coupled with a 7.3% increase in annual pay compared to the previous year. The report highlighted extreme weather disruptions affecting employment during the reference week. Job growth varied across sectors, with a 3,000 decline in goods-producing jobs, while service-providing jobs increased by 109,000. Notably, large establishments contributed the most to job gains, adding 128,000 jobs. Pay growth remained steady for job stayers but surged to 15.4% for job changers.

ADP (Nasdaq: ADP) reported its second quarter fiscal 2023 financial results on January 25, 2023. The comprehensive earnings release is available on ADP's investor relations website and will be submitted to the SEC as a Form 8-K. Additionally, ADP has scheduled a conference call for financial analysts to discuss these results at 8:30 a.m. ET on the same day, with a live webcast accessible online. Complete financial information, including quarterly segment revenues for fiscal years 2021, 2022, and 2023, can also be found on their website. ADP emphasizes its commitment to designing better HR solutions through advanced technology and exceptional services.