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ADP Wins Industry Accolades, Product Portfolio Key Driver
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Automatic Data Processing Inc. (ADP - Free Report) is a well-known name in the cloud-based human capital management (HCM) market. The company has a strong customer base with more than 650K clients across 110 countries.
Of late, ADP has been winning accolades throughout the industry. Analyst firm NelsonHall recognized ADP as a "Leader" in payroll business processing outsourcing services for the fourth consecutive year. Fortune also named the company in the “World’s Most Admired Companies” list for 2017 and it has been ranked #1 on the Financial Data Services industry list for the fifth consecutive year.
World HRD Congress has also honored ADP's payroll solutions with two of its annual Human Resources Vendors awards—'Best Payroll Outsourcing Partner' and 'Best Payroll Software' in Asia.
Moreover, we note that ADP has also impressed its shareholders by outperforming the Zacks Outsourcing industry in the last one year. While the stock gained 17.6%, the industry returned 12.4%.
Product Portfolio Strength Drives Growth
The industry recognitions primarily reflect the strength of ADP’s product portfolio that continues to attract new customers. ADP products have recently been selected by clients like Simmons Foods, and Areas—an international brand of Elior Group.
While Simmon Foods selected ADP’s Datacloud, which is a part of the ADP Vantage HCM solution, Areas implemented Benefits Administration Solution. ADP’s diversified HCM product portfolio is a true differentiator against the likes of Paychex, Equifax (EFX - Free Report) and Insperity (NSP - Free Report) .
We believe that the company’s higher revenue per client and a decent customer retention ratio place it in an advantageous position. ADP continues to expect new business bookings growth in the second half of fiscal 2017.
ADP’s Mobile Solution app is currently available in more than 175 countries globally. Per the company, the app has also been ranked as one of the top free business app in Apple (AAPL - Free Report) App Store and the most downloaded app for HCM. Notably, the Mobile Solution app user base has surpassed 10 million individual employees, which is definitely an eye-popping number.
We believe that the lower penetration of mobile solutions in the HCM market (maximum 20%) presents a significant growth opportunity for ADP. The company has noted that the app supports 1,000 HR transactions per second and adds more than 30K new users on average each month.
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ADP Wins Industry Accolades, Product Portfolio Key Driver
Automatic Data Processing Inc. (ADP - Free Report) is a well-known name in the cloud-based human capital management (HCM) market. The company has a strong customer base with more than 650K clients across 110 countries.
Of late, ADP has been winning accolades throughout the industry. Analyst firm NelsonHall recognized ADP as a "Leader" in payroll business processing outsourcing services for the fourth consecutive year. Fortune also named the company in the “World’s Most Admired Companies” list for 2017 and it has been ranked #1 on the Financial Data Services industry list for the fifth consecutive year.
World HRD Congress has also honored ADP's payroll solutions with two of its annual Human Resources Vendors awards—'Best Payroll Outsourcing Partner' and 'Best Payroll Software' in Asia.
Moreover, we note that ADP has also impressed its shareholders by outperforming the Zacks Outsourcing industry in the last one year. While the stock gained 17.6%, the industry returned 12.4%.
Product Portfolio Strength Drives Growth
The industry recognitions primarily reflect the strength of ADP’s product portfolio that continues to attract new customers. ADP products have recently been selected by clients like Simmons Foods, and Areas—an international brand of Elior Group.
While Simmon Foods selected ADP’s Datacloud, which is a part of the ADP Vantage HCM solution, Areas implemented Benefits Administration Solution. ADP’s diversified HCM product portfolio is a true differentiator against the likes of Paychex, Equifax (EFX - Free Report) and Insperity (NSP - Free Report) .
We believe that the company’s higher revenue per client and a decent customer retention ratio place it in an advantageous position. ADP continues to expect new business bookings growth in the second half of fiscal 2017.
Automatic Data Processing, Inc. Price
Automatic Data Processing, Inc. Price | Automatic Data Processing, Inc. Quote
ADP’s Mobile Solutions: Key Catalyst
ADP’s Mobile Solution app is currently available in more than 175 countries globally. Per the company, the app has also been ranked as one of the top free business app in Apple (AAPL - Free Report) App Store and the most downloaded app for HCM. Notably, the Mobile Solution app user base has surpassed 10 million individual employees, which is definitely an eye-popping number.
We believe that the lower penetration of mobile solutions in the HCM market (maximum 20%) presents a significant growth opportunity for ADP. The company has noted that the app supports 1,000 HR transactions per second and adds more than 30K new users on average each month.
Zacks Rank
ADP has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>