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Automatic Data Processing, Inc. is a provider of
business outsourcing. It is also a provider of computing services to automobile
and heavy equipment dealers. ADP is one of four U.S. companies to get a AAA
credit rating from Standard & Poor's (S&P) and Moody's.
History
In 1949 Henry Taub founded Automatic Payrolls, Inc.
as a manual payroll processing business. 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. ADP went public in
1961 with 300 clients, 125 employees and revenues of approximately $400,000.
From 1985 onward, ADP’s annual revenues exceeded the
$1 billion mark, with paychecks processed for about 10% of the U.S. workforce.
In the 1990s ADP began acting as aprofessional employer organization (PEO).
Around this time, the company acquired Autonom, a German company, Kerridge
Computer Co. Ltd., a dealer management systems (DMS) provider to auto dealers
in the UK, and the
Type Public
Traded as
NASDAQ: ADP
NASDAQ-100 Component
S&P 500 Component
Industry Business process outsourcing
Founded
Paterson, New Jersey (1949)
Headquarters
Roseland, New Jersey, U.S.
Key people
Leslie A. Brun (Chairman)Carlos Rodriguez (CEO)
Revenue $ 10 billion
Operating income
$ 1.9
billion (FY 2011)
Net income
$ 1.2
billion (FY 2011)
Total assets
$ 34.2
billion (FY 2011)
Total equity
$ 6.0
billion (FY 2011)
Employees
51,000 (September 2011)
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