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News Breaks
April 30, 2014
07:33 EDTADPADP reports Q3 EPS $1.08, consensus $1.08
Reports Q3 revenue $3.32B, consensus $3.34B. Reports Q3 continuing operations EPS $1.06.
News For ADP From The Last 14 Days
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September 29, 2014
07:43 EDTADPADP sees FY15 adjusted EPS $3.49-$3.55, consensus $3.52
Sees FY15 ADP EPS from Continuing Operations including $825M of Share Repurchases $2.89-$2.93. ADP provided updated FY15 guidance in anticipation of the spin-off of its Dealer Services business unit, to be named CDK Global. With the completion of the spin-off, ADP will report results of operations of the former Dealer Services business as discontinued operations. As a result, ADP revised its guidance for the current fiscal year ending June 30, 2015, and is now forecasting diluted EPS from continuing operations on a comparable basis to grow 12%-14% in FY15 over last fiscal year's restated $2.58 per share. This forecast includes a 2c benefit resulting from incremental share repurchases funded by the $825M in dividend proceeds the company expects to receive from CDK Global as a result of the spin-off. The company anticipates completing the $825M share repurchase by June 30, 2015, depending on market conditions. The FY15 revenue growth forecast is unchanged and is expected to rise 7%-8%. See the accompanying table at the end of this release for the full year pro-forma 2014 financials and 2015 guidance presented with Dealer Services reported within discontinued operations.
September 23, 2014
17:58 EDTADPCDK Global set to join S&P MidCap 400, Bill Barrett to join S&P small cap 600
CDK Global Inc. (CDKVV) will replace Bill Barrett (BBG) in the S&P MidCap 400, and Bill Barrett will replace ITT Educational Services (ESI) in the S&P SmallCap 600 after the close of trading on Tuesday, September 30. S&P 500 constituent Automatic Data Processing (ADP) is spinning off CDK Global in a deal expected to be completed on that date. Bill Barrett's market capitalization is below $1.2B, making it more representative of the small cap market space. ITT Educational Services is ranked at the bottom of the S&P SmallCap 600. CDK Global provides integrated information technology and digital marketing solutions to retail locations and manufacturers. Headquartered in Hoffman Estates, IL, the company will be added to the S&P MidCap 400 GICS Application Software Sub-Industry index. Bill Barrett acquires, explores, and develops oil and natural gas resources. Headquartered in Denver, CO, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Exploration & Production Sub-Industry index.
17:27 EDTADPCDK Global Inc. to replace Bill Barrett in S&P 400 as of 9/30 close
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September 17, 2014
08:03 EDTADPADP AdvancedMD EHR receives ONC-ACB certification by Drummond Group
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September 16, 2014
10:13 EDTADPADP announces share distribution ratio for spin-off
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09:59 EDTADPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: ACI Worldwide (ACIW) initiated with a Neutral at Sterne Agee... ADP (ADP) initiated with a Market Perform at Bernstein... ANSYS (ANSS) initiated with a Sector Perform at RBC Capital... Accenture (ACN) initiated with a Market Perform at Bernstein... Blackhawk (HAWK) initiated with a Neutral at Sterne Agee... Coca-Cola (KO) initiated with a Market Perform at Cowen... Cognizant (CTSH) initiated with an Outperform at Bernstein... Constellation Brands (STZ) initiated with a Market Perform at Cowen... Dr Pepper Snapple (DPS) initiated with a Market Perform at Cowen... GenCorp (GY) initiated with a Hold at KeyBanc... Global Payments (GPN) initiated with a Neutral at Piper Jaffray... GoPro (GPRO) initiated with a Buy at Cleveland Research... Green Dot (GDOT) initiated with a Neutral at Sterne Agee... Lionsgate (LGF) initiated with a Buy at ISI Group... MEDNAX (MD) initiated with a Neutral at SunTrust... MasterCard (MA) initiated with a Buy at Sterne Agee... Molson Coors (TAP) initiated with an Outperform at Cowen... Monster Beverage (MNST) initiated with a Market Perform at Cowen... NetSuite (N) initiated with an Outperform at RBC Capital... Oracle (ORCL) assumed with a Sector Perform at RBC Capital... PepsiCo (PEP) initiated with an Outperform at Cowen... SAP (SAP) initiated with a Sector Perform at RBC Capital... Teekay (TK) initiated with a Hold at Deutsche Bank... Tesla (TSLA) initiated with a Buy at ISI Group... Visa (V) initiated with a Buy at Sterne Agee... Western Union (WU) initiated with a Neutral at Sterne Agee... Workday (WDAY) initiated with an Outperform at RBC Capital... Yelp (YELP) initiated with a Neutral at RW Baird... Zillow (Z) initiated with an Overweight at Stephens... zulily (ZU) initiated with an Outperform at RW Baird.
09:05 EDTADPEMC selects ADP for human capital management
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07:40 EDTADPADP initiated with a Market Perform at Bernstein
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