Automatic Data Processing

ADP, LLC.
Public
Traded as
Industry Business services
Founded Paterson, New York (1949)
Founder Henry Taub
Headquarters Roseland, New Jersey, U.S.
Key people
 Leslie A. Brun (Chairman) Carlos A. Rodriguez (President & CEO)
Services Human resource, payroll, tax and benefits administration solutions from a single source
Revenue Increase US$10,660,000,000 (2012)[1]
Increase US$2,122,000,000 (2012)[1]
Increase US$1,388,000,000 (2012)[1]
Total assets Increase US$30,810,000,000 (2012)[1]
Total equity Increase US$6,114,000,000 (2012)[1]
Number of employees
 60,000 +
Website www.adp.com

ADP, LLC., is an American provider of business outsourcing solutions. ADP was formerly one of four American companies to get a AAA credit rating from Standard & Poor's (S&P) and Moody's,[2][3] but S&P and Moody's downgraded ADP to AA in April 2014, after the dealer services unit spin off.[4]

History

In 1949 Henry Taub founded Automatic Payrolls, Inc. as a manual payroll processing business with his brother Joe Taub. Frank Lautenberg joined the brothers in the company's infancy. In 1952, Lautenberg became Chairman and CEO of the company. In 1957, the company changed its name to Automatic Data Processing, Inc. (ADP), and began using punched card machines, check printing machines, and mainframe computers.[5] ADP went public in 1961 with 300 clients, 125 employees and revenues of approximately US$400,000. The company established a subsidiary in the United Kingdom in 1965 and acquired the pioneering online computer services company Time Sharing Limited (TSL) in 1974. Lautenberg continued in his roles as Chairman and CEO until elected to the United States Senate from New Jersey in 1982.

From 1985 onward, ADP’s annual revenues exceeded the $1 billion mark, with paychecks processed for about 20% of the U.S. workforce. In the 1990s, ADP began acting as a professional employer organization (PEO). Around this time, the company acquired Autonom, a German company and the payroll and human resource services company, GSI, headquartered in Paris. Kerridge Computer Co. Ltd., a dealer management systems (DMS) provider to auto dealers in the UK was acquired in 2006.

In September 1998, ADP acquired UK-based Chessington Computer Centre that supplied administration services to the UK Government.[6]

In 2007, the ADP Brokerage Service Group was spun off to form Broadridge Financial Solutions, Inc. (NYSE: BR), removing about US$2,000,000,000 from ADP's total yearly revenue.[7] ADP distributed one share of Broadridge common stock for every four shares of ADP common stock held by shareholders of record as of the close of business on March 23, 2007.[8]

ADP is sponsor of the ADP National Employment Report as well as the ADP Small Business Report.

CDK Global, LLC

ADP Dealer Services in Ontario

Formerly called ADP Dealer Services, CDK Global was formed in 1972 and provides integrated technology services and solutions to over 26,500 automotive dealerships internationally, as well as vehicle manufacturers.[9] In 2010, ADP acquired the automotive marketing company Cobalt.[10]

BZ Results (Automotive Dealer Services), winner of the 2006 “Innovative Company of the Year”,[11][12] was purchased by ADP in 2006.[13] At the time, BZ Results was valued at $125 million.

On April 7, 2014, ADP announced plans to spin off the Dealer Services division as a standalone company.[14] On August 19, 2014, ADP Dealer Services announced that the name of the new company, post-spinoff, would be CDK Global.[15]

Recognition

References

  1. 1 2 3 4 5 "Automatic Data Processing 2012 Annual Report, Form 10-K" (pdf). EDGAR. August 20, 2012. Retrieved December 26, 2012.
  2. ↑ Rooney, Ben (February 5, 2010). "Buffett's Berkshire loses top S&P credit rating". CNN Money.
  3. ↑ Staff (July 27, 2011). "4 AAA-Rated Companies With Attractive Yields". Seeking Alpha.
  4. ↑ Mead, Charles (April 10, 2014). "ADP Stripped of Top AAA Ratings on Spinoff of Auto-Dealer Unit". Bloomberg Business News.
  5. ↑ "History". ADP.
  6. ↑ "Ministers under fire over licence errors". Computer Weekly. February 4, 1999 – via Highbeam Business.
  7. ↑ "Automatic Data Processing March 2007 Current Report, Form 8-K". EDGAR. March 21, 2007. Retrieved December 26, 2012.
  8. ↑ "Automatic Data Processing April 2007 Current Report, Form 8-K". EDGAR. April 4, 2007. Retrieved December 26, 2012.
  9. ↑ "About ADP Dealer Services". ADP.
  10. ↑ "ADP Completes Cobalt Acquisition -- Is It Nirvana?". Dealer. Archived from the original on August 20, 2010.
  11. ↑ Sean Wolfington. AutoSuccess Magazine. Retrieved March 6, 2007.
  12. ↑ Auto Success magazine (pg. 8-10).
  13. ↑ Cliff Banks (April 1, 2006). "ADP Bolsters Website Efforts By Buying BZ". WardsAuto.com. Retrieved 2006-12-26.
  14. ↑ "ADP plans to spin off dealer-services business". MarketWatch.
  15. ↑ "ADP Announces Post-Spin name of its Dealer Services Business".
  16. ↑ "Best Places to Work 2012: Employer Profile of Automatic Data Processing Inc.". Computerworld.
  17. 1 2 3 "Recognition & Awards". ADP.
  18. ↑ "Training Top 125: 2010".
  19. ↑ "Training Top 125: 2009" (pdf).
  20. ↑ "InformationWeek 500: Top 250 Innovators" (pdf). 2006-09-11. Retrieved 2007-09-22.
  21. ↑ Automatic Data Processing (ADP) 2003 Summary Annual Report (pg. 6)
  22. ↑ Automatic Data Processing (ADP) 2004 Summary Annual Report (pg. 14)
  23. ↑ Automatic Data Processing (ADP) 2005 Summary Annual Report (pg. 6)

External links

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