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Actionable news in ADP: Automatic Data Processing, Inc.,

ADP Stock Sinks on Lowered Guidance

NEW YORK (TheStreet) -- Automatic Data Processing (ADP - Get Report) stock is falling by 2.77% to $87.83 in late afternoon trading on Wednesday, after the company reported its fiscal 2016 first quarter earnings results this morning.

The company posted earnings of 68 cents per share, up from 62 cents per share from the prior year period.

Revenue grew by 6% year over year, to $2.71 billion from $2.57 billion in the fiscal 2015 first quarter.

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Analysts surveyed by Thomson Reuters had estimated earnings of 65 cents per share on revenue of...