Automatic Data Processing Inc Stock Price, News & Analysis

ADP Canada and Maru Public Opinion conducted a survey revealing that 60% of Canadian employees have been informed about their employers' return-to-work strategies. Over half (53%) are back in the office, while 29% expect to return by the end of 2021. The survey indicates a shift towards flexible work arrangements, with 40% expected to work five days a week, and many others on a part-time or flexible schedule. This change underscores a growing acceptance of remote work as part of business operations.

ADP has been recognized as a Leading Inclusion Index Company in the 2021 Seramount Inclusion Index, affirming its efforts to create an inclusive workplace. This recognition follows ADP's inclusion in the 2021 Global Inclusion Index. The evaluation assessed 193 organizations on best practices in recruitment, retention, and advancement of underrepresented groups. ADP's initiatives include support for diverse talent and training programs aimed at bias disruption. The company ranked eighth on DiversityInc's 2021 Top 50 Companies for Diversity, showcasing its commitment to diversity, equity, and inclusion.

The board of directors of Automatic Data Processing has announced a quarterly dividend of 93 cents per share. This dividend will be payable on October 1, 2021, to shareholders recorded as of September 10, 2021. The declaration underlines ADP's commitment to returning value to its shareholders through regular dividends, enhancing investor confidence and market stability.

In July 2021, the ADP National Employment Report indicated a significant increase in private sector employment by 330,000 jobs, demonstrating continued progress in the labor market recovery. Small businesses added 91,000 jobs, medium businesses 132,000, and large businesses 106,000. The service-providing sector saw the majority of growth with 318,000 jobs added, particularly in leisure and hospitality, which remained the fastest-growing industry. However, hiring bottlenecks and new COVID-19 variants continue to pose challenges to stronger gains.

The ADP Research Institute has released its Workforce Vitality Report showing a significant 5.8% increase in U.S. wage growth for job switchers year-over-year as of June 2021. Overall wage growth has slowed to 2.3%, down from 6% in Q1 2021. Employment grew 3.5% in June, notably within leisure and hospitality, which posted 13% growth but recorded a -1.39% decline in wages. The report highlights disparities in wage growth across regions, with the Northeast seeing 8% wage growth for switchers, while smaller firms lagged behind larger businesses.

On July 28, 2021, ADP announced the release of the July 2021 findings for the ADP National Employment Report, ADP Small Business Report, and ADP National Franchise Report on August 4, 2021, at 8:15 a.m. ET. These reports are based on payroll data from 460,000 U.S. clients and nearly 26 million workers. The ADP Small Business Report focuses on businesses with 49 or fewer employees, while the Franchise Report analyzes employment changes among franchises. A media conference call, led by ADP Chief Economist Nela Richardson, will follow the report's release.

ADP announced its fourth quarter fiscal 2021 financial results on July 28, 2021, providing insights into its performance and fiscal 2022 outlook. Key metrics will be available on its website. ADP will also hold a conference call for financial analysts on the same day at 8:30 a.m. ET to discuss these results. Supplemental financial details, including quarterly and annual segment revenues, are accessible online. ADP continues to focus on enhancing its human capital management solutions, designed for better workforce management.

ADP surpassed a key milestone by expanding its Workforce Management client base to over 100,000 clients. This growth is supported by innovations like collaborative scheduling for small businesses and a mobile solution for larger enterprises. ADP enables businesses to address workforce needs, offering features such as skills-based scheduling and AI-enabled forecasting. The company's commitment to optimizing staffing is crucial for navigating the current employment landscape.