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Automatic Data Processing (ADP) Lags on Q3 Earnings & Sales

Founded in 1949, New Jersey based-Automatic Data Processing, Inc. ADP is one of the world’s leading providers of human capital management solutions and integrated computing solutions to vehicle dealers. It serves approximately 637K clients across 125 nations.

The company reports in three business segments – Employer Services, Professional Employer Organization (PEO) Services and Dealer Services.

The Employer Services segment includes human resource information, payroll processing, human resources tax and compliance management, and benefit administration products and services.

The Professional Employer Organization (PEO) Services segment provides small and medium-sized businesses with employment administration outsourcing solutions, including payroll, payroll tax filing, HR guidance, 401(k) plan administration, benefits administration, compliance services, health and workers' compensation coverage, and other supplemental benefits for the employees.

The Dealer Services segment provides integrated dealer management systems, digital marketing solutions and other business management solutions to the automotive, heavy truck, motorcycle, marine, recreational vehicle (RV), and heavy equipment retailers, distributors, and manufacturers.

Zacks Rank: Currently, ADP has a Zacks Rank#3 (Hold) but that could change following its third quarter fiscal 2016 earnings report which has just released.

We have highlighted some of the key details from the just-released announcement below:

Earnings: ADP’s adjusted earnings from continuing operations came in at $1.17 per share, lagging the Zacks Consensus Estimate of $1.18. Earnings also improved 13.6% year over year.

Revenue: Revenues of $3,248.6 million came below the Zacks Consensus Estimate of $3,273 million but grew 7.4% year over year.

Key Stats: New business bookings increased 13% year over year.

Stock Price: Shares prices did not show any movement in the pre-market trading session.

Check back later for our full write up on this ADP earnings report later!

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