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Wed, Feb. 3, 7:03 AM
Tue, Feb. 2, 5:30 PM
Tue, Jan. 19, 1:55 PM
Nov. 10, 2015, 2:25 PM
- Automatic Data Processing (NASDAQ:ADP) declares $0.53/share quarterly dividend, 8.2% increase from prior dividend of $0.49.
- Forward yield 2.45%
- Payable Jan. 1; for shareholders of record Dec. 11; ex-div Dec. 9.
Oct. 28, 2015, 2:18 PM
- Though it beat FQ1 EPS estimates (while slightly missing on revenue), ADP (ADP -3.4%) now expects FY16 (ends June '16) EPS growth to be at the lower end of a prior 12%-14% guidance range; consensus is for EPS to rise 13% to $3.27. The company blames "additional selling expenses due to an increased forecast for new business bookings growth, as well as expected investments in operational resources to support additional new business sold."
- FY16 revenue growth guidance has been cut to 7%-8% from 7%-9% (consensus is at 8.1%) due to the sale of ADP's AdvancedMD electronic health record system unit. However, new business bookings are now expected to rise at least 10%, better than prior guidance of 8%-10%. New business bookings rose 13% Y/Y in FQ1, after growing 18% in FQ4.
- Employer Services revenue rose 3% Y/Y in FQ1 to $2.13B; segment op. margin fell 40 bps Y/Y to 27.6%. PEO services revenue rose 18% to $701.5M; op. margin grew 130 bps to 12.6%. Forex had a 3% impact on total revenue growth (6% vs. 9%).
- EPS received a lift from the repurchase of $4.2M shares at a cost of $334M - in August, ADP raised $2B to finance buybacks.
- Shares went into earnings just $2.35 away from a 52-week high of $90.67.
- FQ1 results, PR
Oct. 28, 2015, 7:11 AM
- Automatic Data Processing (NASDAQ:ADP): FQ1 EPS of $0.68 beats by $0.03.
- Revenue of $2.71B (+5.4% Y/Y) misses by $10M.
Oct. 27, 2015, 5:30 PM
- ACCO, ADP, AGCO, AIT, AN, ANTM, APO, ARW, BAH, BDC, BGCP, BOKF, BSX, CARB, CFR, CG, CHMT, CMC, COT, DHX, DORM, DX, EVER, EVR, FCAU, FDML, FLIR, GD, GHM, GNRC, GRMN, HES, HLT, HOT, HSY, HTA, ICE, IDXX, IP, JLL, LFUS, LVLT, MDLZ, NEE, NMR, NOC, NOV, NSC, OXY, PCG, Q, RDWR, RES, ROL, SAH, SAIA, SLAB, SNCR, SO, SONS, SSE, STRA, TECH, TEL, TGI, TKR, UMC, VLO, VLY, VNTV, WBA, WEX, WOOF, XRAY
Aug. 28, 2015, 11:58 AM
- "The significant planned increase in ADP's (ADP -0.1%) funded debt signals a meaningful change in financial policy and sets the stage for the possibility of further credit weakening through future debt raises," says Moody's cutting the company's credit rating to Aa3 from Aa1.
- Previously: ADP raising $2B in debt to buy back shares (Aug. 28)
- "Future long-term debt issuances could diminish ADP's financial flexibility, including its ability to pursue prudent strategic opportunities and to defend its market share against emerging competition," continues Moody's. "The company's credit profile had previously been weakened by asset divestitures, which diminished its scale and decreased diversification of its product portfolio."
Aug. 28, 2015, 7:49 AM
- Assuming successful completion of the $2B offering, ADP intends to repurchase 25M shares, or more than 5% of the float, over the following 12-24 months.
- This 25M share plan is in addition to the roughly 26M shares still remaining under previous authorizations.
- CEO Carlos Rodriquez notes the company has the necessary leverage capacity within its current AA/Aa credit rating.
Aug. 4, 2015, 12:47 PM
- Automatic Data Processing (NASDAQ:ADP) declares $0.49/share quarterly dividend, in line with previous.
- Forward yield 2.42%
- Payable Oct. 1; for shareholders of record Sept. 11; ex-div Sept. 9.
Jul. 30, 2015, 4:01 PM
- ADP (ADP -2.7%) has sold off after posting an FQ4 miss and guiding for FY16 (ends June '16) EPS to rise 12%-14% from an FY15 level of $2.89. That implies a range of $3.24-$3.29, below a $3.31 consensus. Revenue is expected to rise 7%-9%, in-line with an 8.1% consensus.
- The HR/BPO services giant notes FQ4 selling expenses were higher than expected due to strong bookings activity (+18% Y/Y). Employer services revenue rose 2% Y/Y to $2.18B; PEO services rose 16% to $678M. Op. margin rose 30 bps to 14.2%. Forex had a 3% impact on total revenue growth.
- FQ4 results, PR
Jul. 30, 2015, 7:12 AM
- Automatic Data Processing (NASDAQ:ADP): FQ4 EPS of $0.55 misses by $0.04.
- Revenue of $2.7B (-12.1% Y/Y) misses by $40M.
Jul. 29, 2015, 5:30 PM
- AAWW, AB, ACI, ACIW, ACOR, ACRE, ADP, ALKS, ALLE, ALU, ALXN, AMRC, APD, AVP, AWI, AZN, BC, BCO, BG, BLL, BUD, BWA, BWEN, CAH, CBB, CBM, CBR, CCE, CCJ, CEVA, CI, CL, CME, COP, COT, CPN, CRL, CRR, CRS, CSH, CVE, CVI, CVRR, DBD, DCIX, DFT, DLPH, EDR, EME, ENTG, EPD, ERJ, ESI, EXLS, FCAU, FCN, FIG, FMS, GG, GHM, GLOP, GLPI, GNC, GOV, GTLS, GVA, HEES, HOT, HP, HST, I, IART, IDA, IDCC, IDXX, INGR, IRDM, IRM, IT, ITC, IVZ, KMT, LBY, LINE, LKQ, LLL, MD, MDLZ, MDP, MDXG, MMYT, MOBL, MPC, MPLX, MSCI, MTRN, MWW, NAVB, NICE, NMM, NNN, NOK, NTCT, ODFL, OSK, OXY, PBI, PCRX, PES, PF, PG, PNK, PNW, POT, PRFT, PWE, RDS.A, RFP, RTIX, RYAM, RYL, SC, SCG, SEE, SHOO, SHOP, SMP, SNE, SNMX, SSYS, SUI, SWK, TASR, TDY, TE, TEX, TFX, TKR, TMUS, TWC, TWI, UAN, UFS, UPL, VA, VG, VICL, VLO, VLY, WST, WWE, XEL, XRAY, XYL, YNDX, ZBH
Jul. 21, 2015, 10:15 AM
- New proposed rules from the Labor Department on overtime wages have companies scrambling to adjust to the potential for lower thresholds for extra pay.
- Though there are some fears that costs could rise for retailers and restaurant chains as they pay out more OT wages, MIT professor Thomas Kochan notes the industries could evolve to become more efficient.
- A push toward efficiency tracking could benefit payroll services companies such as ADP (NASDAQ:ADP), Paychex (NASDAQ:PAYX), and TriNet (NYSE:TNET).
- Previously: Overtime pay rules to be shaken up (Jun. 30 2015)
- Previously: New overtime wage proposal looms large in retail sector (Jun. 30 2015)
Apr. 30, 2015, 7:17 AM
- Automatic Data Processing (NASDAQ:ADP): FQ3 EPS of $1.04 beats by $0.02.
- Revenue of $3.03B (+7.1% Y/Y) beats by $10M.
Apr. 29, 2015, 5:30 PM
- AAWW, AB, ABC, ACIW, ACOR, ADP, AIT, ALKS, ALLE, AMT, ANR, APD, ARG, ARW, AVP, AWI, BCE, BDC, BG, BKCC, BLL, BWA, BZH, CAH, CCE, CDK, CELG, CI, CL, CME, COMM, COP, CRR, CRS, CSH, CTCM, CVI, CVRR, CWEI, CY, DBD, DIN, DLPH, EME, EPD, ERJ, EXLS, FCN, FIS, FMS, FSS, GEO, GG, GLOP, GNC, GNRC, GOV, GTI, GTLS, HAR, HEES, HST, HUN, I, IDA, IMAX, INCY, INGR, IRDM, ITC, ITG, IVZ, LBY, LKQ, LLL, LPLA, MD, MGLN, MINI, MLM, MMC, MOS, MPC, MPLX, MSCI, MTRN, MVIS, NBIX, NI, NOK, NTCT, NVO, NYT, OAK, ODFL, OMG, PBI, PCRX, PES, PF, POT, PSX, PSXP, PWE, PWR, RDS.A, RDWR, RGLD, RGS, ROK, RYL, SCG, SEE, SHPG, SMP, SNAK, SNE, SNMX, STM, STRZA, TASR, TDY, TEVA, TFX, THRM, TKR, TWC, TWI, UAN, UFS, UPL, VA, VAC, VGR, VIAB, VLY, VNTV, WRLD, WST, WWE, XEL, XOM, XYL, ZMH
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