Automatic Data Processing Inc Stock Price, News & Analysis

ADP (Nasdaq: ADP) announced its third quarter fiscal 2023 financial results along with a revised fiscal outlook. The earnings release is accessible on their investor website and will be filed with the SEC. A conference call for financial analysts took place on April 26, 2023, at 8:30 a.m. ET, with a replay available online. Supplemental financial information is also posted on ADP's site, covering quarterly and yearly revenues and earnings from fiscal years 2021 to 2023. ADP continues to focus on enhancing human capital management solutions, emphasizing data-informed designs to foster workforce potential.

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.