Last $83.46 USD
Change Today +0.44 / 0.53%
Volume 1.2M
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As of 8:10 PM 09/15/14 All times are local (Market data is delayed by at least 15 minutes).

automatic data processing (ADP) Key Developments

Gregory D. Brenneman and Gregory L. Summe Notifies Not Stand for Re-Election as Director of Automatic Data Processing, Inc. at 2014 Annual Meeting of Shareholder

On August 5, 2014, Gregory D. Brenneman and Gregory L. Summe notified the Board of Directors of Automatic Data Processing, Inc. that they will not stand for re-election as a director of the company at the end of current term, and intends to resign from the company's Board of Directors effective as of the date of the company's 2014 Annual Meeting of Shareholders.

ADP Declares Regular Quarterly Dividend, Payable on October 1, 2014

The board of directors of ADP has declared a regular quarterly dividend of 48 cents per share payable October 1, 2014 to shareholders of record on September 12, 2014.

Automatic Data Processing, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended June 30, 2014; Provides Earnings Guidance for the Fiscal 2015

Automatic Data Processing, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended June 30, 2014. For the quarter, the company's total revenues were $3,073.7 million compared to $2,802.8 million a year ago. Earnings from continuing operations before income taxes were $449.3 million compared to $361.0 million a year ago. Net earnings from continuing operations was $288.7 million or $0.60 per diluted share compared to $224.0 million or $0.46 per diluted share a year ago. Net earnings were $288.7 million or $0.60 per diluted share compared to $227.0 million or $0.47 per diluted share a year ago. Adjusted total pre-tax earnings from continuing operations were $464.2 million compared to $403.7 million a year ago. Adjusted net earnings from continuing operations was $303.6 million or $0.63 per diluted share compared to $266.7 million or $0.55 per diluted share a year ago. For the year, the company's total revenues were $12,206.5 million compared to $11,287.6 million a year ago. Earnings from continuing operations before income taxes were $2,274.6 million compared to $2,076.1 million a year ago. Net earnings from continuing operations was $1,502.6 million or $3.11 per diluted share compared to $1,358.1 million or $2.79 per diluted share a year ago. Net earnings were $1,515.9 million or $3.14 per diluted share compared to $1,405.8 million or $2.89 per diluted share a year ago. Adjusted total pre-tax earnings from continuing operations were $2,289.5 million compared to $2,118.8 million a year ago. Adjusted net earnings from continuing operations was $1,517.5 million or $3.14 per diluted share compared to $1,400.8 million or $2.81 per diluted share a year ago. For the fiscal 2015, the company anticipates approximately 7% to 8% growth of revenues. Based on fiscal 2014's $12.21 billion, this implies approximately $13.07 billion to $13.19 billion. The company anticipates 75 to 100 basis points of pretax margin expansion from the adjusted 18.8% in fiscal 2014. The company anticipates an effective tax rate of 34.6% compared with the 33.7% in fiscal 2014. Diluted earnings per share from continuing operations will be 11% to 13% growth compared to the adjusted $3.14 in fiscal 2014. That implies a profit in a range of about $3.49 to $3.55 per share. The company is forecasting a positive impact to pretax earnings from the client fund investment strategy, the company is still expecting a slight drag of 10 to 15 basis points on ADP's pretax margin due to the highly profitable nature of these revenues, which are forecasted to grow at a slower rate than overall revenues. If this fiscal year 2014 forecast for the client funds investment strategy is realized, it will be the first time since 2008 that ADP will experience a positive impact to both revenues and earnings. However, the benefit is not expected to occur until the second half of fiscal year. For Employer Services, the company is forecasting revenue growth of about 6% to 7% with pretax margin expansion of about 100 basis points. For PEO Services, the company is forecasting 13% to 15% revenue growth with up to 50 basis points in pretax margin expansion. And for Dealer Services, the company is forecasting 7% to 8% revenue growth with about 50 basis points of pretax margin expansion.

ADP Announces New Enhancements to ADP Procure-to-Pay Solutions Platform

ADP announced that new enhancements to the ADP Procure-to-Pay Solutions(R) (P2P) platform will provide users with increased customization and improved control of their electronic invoicing and payments processes. The platform will help buyers and suppliers work more collaboratively by offering immediate access to critical data and making the payments process more efficient. The latest enhancements to ADP's P2P electronic invoicing solution include: Improved supplier dashboard and analytics. The new supplier dashboard now provides analytics and insights up front, helping to enable suppliers to access relevant information and monitor trends. The new dashboard delivers visibility into approved and unapproved invoices, purchase orders and disputes so suppliers can see critical data and take action. Both buyers and suppliers also can take advantage of an improved resource center that houses reference materials and can be accessed without interrupting the invoice production cycle. Customizable invoice coding display. ADP now makes it easier for clients to configure coding fields and other data elements that are displayed on the invoice so users and suppliers only see information that is relevant to their business processes. Clients can configure the application so that only the desired fields are visible to users, delivering a more streamlined interface. Multiple payment accounts functionality. Clients now can make payments to suppliers from more than one account if they have distributed operations that manage their own payables transactions. Buyers can configure multiple bank accounts, choose their preferred payment method and better handle payment exceptions. Increased control and flexibility of invoice approvals. If an invoice has been approved in error for any reason, users now have the ability to unapprove the invoice and return it back into the workflow for further review and processing--all with the simple click of a button. In the coming months, the company plans to release several other enhancements to its P2P solution, including a new responsive design that will provide a more compelling client experience on mobile devices. Evolving integration capabilities will help make it easier for buyers and suppliers to input and access data in the system. The ADP Procure-to-Pay Solutions platform is transforming the way organizations manage their accounts payable process. The company delivers comprehensive functionality -- PO management, electronic invoicing, supplier enablement, scan and capture services, automated workflow and payments automation -- to clients looking to help reduce errors and their use of paper, while helping to increase efficiency and overall spend visibility.

Comprehensive Logistics Inc. Selects ADP to Deliver an Integrated HCM Solution

ADP announced that Comprehensive Logistics Inc. has awarded the company a contract to deliver an integrated HCM solution based on ADP Vantage HCM. Comprehensive Logistics, a new client to ADP, signed on for payroll, benefits, HR, and time and labor management as part of its flexible deployment of ADP Vantage HCM. The company is involved in critical just-in-time, just-in-sequence material flow and pre-assembly work for the U.S. auto industry, including brakes, radiators, roof assemblies, match-painted mirrors and more. Their finished products are delivered to auto manufacturers and relied upon for the timely construction of thousands of autos daily. The company also has diversified with recent moves into transportation management services and recent wins in industries outside of the automobile sector.

 

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Price/Earnings 26.7x
Price/Sales 3.3x
Price/Book 6.0x
Price/Cash Flow 22.5x
TEV/Sales 2.9x
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