Automatic Data Processing, Incs, while fairly conservative, were raised each year since payments started in 1974. Furthermore, the company was also convinced that room existed for further progress. In 1993, ADP noted that it still had only about a 15 percent penetration of the payroll market nationally and even in its New York-New Jersey home area only about 25 percent. It also planned to simply shrink some businesses “where a smaller ongoing operation gives ADP a better return” than selling it, especially when a unit might continue to generate cash that could build up other operations. And while counting on outsourcing by other companies to feed its growth, ADP also used outsourcing when appropriate. Thus, in 1990 it arranged for IBM to take over the maintenance of its stock quote terminals.
- In 2020, ADP was ranked 227 on the Fortune 500 list of the largest United States corporations by revenue.
- In the 1990s, ADP began acting as a professional employer organization .
- We apply the ADP NER weekly employment index to a QCEW base period level of employment to produce the ADP NER measure of weekly employment level.
- Thereafter, the company acquired or established its way into other parts of the nation.
- Money Flow Uptick/Downtick RatioMoney flow measures the relative buying and selling pressure on a stock, based on the value of trades made on an “uptick” in price and the value of trades made on a “downtick” in price.
- While traditional banking institutions were a major competitor for payroll services, ADP gradually acquired such payroll businesses, often arranging for the bank to remain the up-front marketing agent while ADP operated the service.
Because the underlying https://adprun.net/ payroll databases are continuously updated, we can create high-frequency, near real-time measures of U.S. employment. Also, ADP payroll data at the person level enables more detailed, richer analysis. The monthly report is distributed free of charge as part of ADP’s commitment to provide labor-market insight to businesses, governments, and the public.
Automatic Data Processing Financial Summary
ADP remained confident, however, that the glitches would be overcome, and the company was set for a smooth 1994 season. Buoyed by strong internal growth after going public, ADP was ready to speed its development through aggressive use of acquisitions by the mid-1960s. From a small office in Paterson, Taub solicited accounts in the surrounding area, often utilizing public transportation to pick up time sheets and return the finished payroll.
- Automatic Data Processing Inc. said Wednesday it will increase its quarterly cash dividend by 12% to an annual rate of $4.16 per share.
- Compare Automatic Data Processing Limited’s financial ratios and growth to peers in their industries of operation for a clearer picture of performance.
- ADP payroll data include payroll transactions data – when a person is paid and how much – as well as administrative data on who is on the company payroll , and characteristics of the employer and employee.
- In 2021 the company made a revenue of $15.27 B an increase over the years 2020 revenue that were of $14.10 B.The revenue is the total amount of income that a company generates by the sale of goods or services.
- Exchanges report short interest twice a month.Percent of FloatTotal short positions relative to the number of shares available to trade.
- In 1949, Henry Taub founded Automatic Payrolls, Inc. as a manual payroll processing business with his brother Joe Taub.
That year ADP acquired CSI Computer Systems of Cincinnati, which helped about 500 car dealers with their paper work. This led ADP into its third major line, which it called Dealer Services. Since then ADP vastly expanded both the concept and scope of these services. By 1993 it served more than 7,000 North American car and truck dealers, while 1,000 European dealers were added with the 1992 acquisition of Germany’s Autonom Computer.
Automatic Data Processing Inc
News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. ADP has over 600,000 clients worldwide, 40,000 of which use its human capital management software. Customers include Blue Cross Blue Shield of Massachusetts, Columbia Sportswear and The E.W. Scripps Company. In January 2018, ADP acquired WorkMarket, a New York City-based software platform company that helps businesses manage freelancers, contractors, and consultants. So, in 1949, with the support of two business acquaintances, Taub opened a company to provide that specialized service.