Welcome to our dedicated page for Automatic Data Processing news (Ticker: ADP), a resource for investors and traders seeking the latest updates and insights on Automatic Data Processing stock.
Automatic Data Processing Inc (ADP) delivers cloud-based human capital management solutions to businesses worldwide. This dedicated news hub provides investors and professionals with timely updates on corporate developments, regulatory compliance changes, and strategic initiatives shaping the HR technology sector.
Access curated press releases and analysis covering ADP's earnings announcements, product innovations, and strategic partnerships. Our repository simplifies tracking of operational milestones, leadership updates, and service expansions while maintaining strict compliance with financial disclosure standards.
Key coverage areas include workforce management technology advancements, PEO service updates, and regulatory adaptation strategies. Bookmark this page for streamlined access to verified information supporting informed analysis of ADP's market position and industry trends.
ADP has enhanced its Wisely® payment platform with features like Earned Wage Access (EWA) to assist employees in managing finances and help employers attract talent. The platform enables secure digital accounts that integrate various income sources and offers tools like Bill Pay, Savings Envelopes (over $1.3B saved), Cash Back Rewards, and mobile wallet access. The update reflects a focus on digital financial wellness, as 91% of millennials consider EWA vital for employers. By integrating with payroll systems, Wisely aims to streamline payments and improve efficiency for employers.
On Nov. 9, 2022, ADP (Nasdaq: ADP) announced that its board of directors has authorized a new $5 billion stock repurchase program. This authorization replaces the previous 2019 program of the same amount. As of October 28, 2022, ADP had approximately 415 million shares outstanding. The initiative aims to enhance shareholder value by reducing the number of shares in circulation.
ADP's board approved a $0.21 increase in its quarterly cash dividend, raising it to an annual rate of $5.00 per share. This marks the 48th consecutive year of dividend increases, signifying the company's commitment to shareholder value. The new dividend of $1.25 per share will be distributed on January 1, 2023, for shareholders on record as of December 9, 2022.
CEO Carlos Rodriguez highlighted this increase as a reflection of ADP's shareholder-friendly approach.
In October, private sector employment rose by 239,000 jobs, surpassing the previous month's revised figure of 192,000. Annual pay increased by 7.7%, consistent with recent months. The report highlights sector-specific employment changes, with goods-producing industries showing a decline of 8,000 jobs, while service-providing sectors saw an increase of 247,000 jobs. Notably, the West region added 229,000 jobs. However, job changers experienced a drop in pay growth, indicating potential economic strain in sensitive sectors.
ADP announced the appointment of Maria Black as its new CEO, effective January 1, 2023, succeeding Carlos Rodriguez, who will transition to Executive Chair of the Board. Black, currently president, has over two decades of experience at ADP, including leadership roles in sales and marketing. Rodriguez has led the company since November 2011, overseeing significant growth and innovation. The Board expressed confidence in Black's ability to continue ADP's success and respond to clients' needs.
ADP (Nasdaq: ADP) reported its first quarter fiscal 2023 financial results on October 26, 2022. The company provided a revised fiscal 2023 outlook and announced a conference call for financial analysts. During the call, ADP expects to discuss supplementary financial information, including quarterly and full-year segment revenues for fiscal years 2021, 2022, and 2023. Investors can access all relevant information on ADP's investor relations website. This event highlights ADP's commitment to transparency and engagement with its shareholders.
ADP's September National Employment Report reveals a strong private sector job increase of 208,000 jobs, up from 185,000 in August, alongside a 7.8% year-over-year growth in annual pay. Notably, job growth is below the three-month average, and job changers experienced a decline in pay growth to 15.7%. The report shows significant job creation across service-providing sectors, with the South leading with 89,000 jobs. While the labor market remains stable, annual pay growth for job changers has slowed, marking a significant change in trends.
ADP has been recognized as the 2022 Top Company for Women Technologists in the Large Technical Workforce category by AnitaB.org, marking the third consecutive year of this honor. This program evaluates gender and racial representation in technical roles across over 400,000 employees from 52 companies. ADP scored highest among those with more than 10,000 technical staff, showcasing its commitment to gender equity and inclusion in the workplace. The recognition highlights ADP’s initiatives, such as the Advancing Women in Leadership Program, aimed at empowering women in technology.
ADP (Nasdaq: ADP) will announce its financial results for the first fiscal quarter ending September 30, 2022, on October 26, 2022, before the Nasdaq opens. A conference call will commence at 8:30 a.m. ET the same day, featuring CEO Carlos Rodriguez and other executives. The financial results will be accessible via the Investor Relations section on ADP's website, with a news alert to notify the public. Investors can participate in the call through a live webcast and view the slide presentation shortly before the event.
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