AUTOMATIC DATA PROCESSING (ADP) Company Report

ADP embeds Thatch’s Individual Coverage Health Reimbursement Arrangement (ICHRA) platform directly into its RUN payroll system, enabling over 900,000 small businesses to offer flexible health benefits in one workflow.
The integration automates payroll deductions and carrier payments, reducing administrative burden for employers.
Through Thatch, employees can customize tax-free health, dental, and vision plans within the RUN interface.
This solution builds on ADP Ventures' April 2025 strategic investment in Thatch, enhancing ADP’s innovation ecosystem.

Dec 11, 2025, 4:03 PM

Press Release

ADP reports November private sector job trends

ADP

Hiring

U.S. private sector employers added an average of 4,750 jobs per week in the four weeks ending November 22, 2025, according to ADP’s NER Pulse.
The official November payroll report recorded a 32,000-job decline, the largest monthly drop since March 2023, driven by a 120,000-job fall at small establishments.
Job losses were split between the goods-producing sector (-19,000 jobs) and the service sector (-13,000 jobs) in November.
October’s total jobs added were revised up from 42,000 to 47,000, indicating stronger prior-month performance.

Dec 9, 2025, 1:30 PM

WSJ

ADP outlines growth targets and innovation at Nasdaq Investor Conference

ADP

Guidance Update

Product Launch

ADP highlighted its 76-year history, global reach in 140 countries, a $180 billion TAM versus $20 billion FY 2025 revenue, recent launches like ADP Lyric and next-gen Workforce Now, and a distribution network of 8,500 sellers plus channel partners.
Its December National Employment Report showed a –32,000 jobs reading, small-business moderation, wages holding near +10 bps, and early AI signals in specific roles but no broad job displacement yet.
For fiscal 2026, ADP targets 4–7 % HCM new-bookings growth, backed by healthy pipelines and Q1 acceleration, and reported 7 % Q1 PEO revenue growth, aiming for 6–8 % medium-term growth with a fully insured healthcare model.
Client retention remains above expectations with record Q1 Net Promoter Scores, and AI investments are already reducing service friction, monetized through value-based pricing rather than standalone fees.

Dec 9, 2025, 10:00 AM

Transcript

ADP outlines growth drivers and AI strategy at Nasdaq conference

ADP

Guidance Update

Product Launch

Highlighted ADP’s scale with $180 billion TAM, showcasing innovation in HCM platforms such as ADP Lyric and next-gen Workforce Now for global payroll and HR services.
Introduced the weekly NER Pulse alongside the monthly National Employment Report (−32K jobs; wages up), while ADP’s base pays-per-control metric shows flat to modest organic employment growth and multi-year lows in layoffs.
Guided 4 %–7 % HCM new bookings growth for fiscal 2026—driven by stable demand, healthy pipelines, AI-infused products, and robust distribution—and reaffirmed medium-term 6 %–8 % PEO revenue growth outlook.
Reported record first-quarter Net Promoter Scores, near-prepandemic SMB bankruptcy levels, and emphasized structural experience improvements to sustain retention outperformance.
Explained AI monetization through value-based pricing by removing service friction (e.g., automated payroll anomaly resolution), boosting client stickiness and upsell potential rather than standalone AI fees.

Dec 9, 2025, 10:00 AM

Transcript

ADP outlines market opportunity, guidance, and AI integration at investor conference

ADP

Guidance Update

Product Launch

ADP’s Investor Day emphasized its global scale—serving clients in 140 countries with a 76-year history—and a $180 billion total addressable market versus $20 billion in FY2024 revenue.
The newly launched National Employment Report Pulse showed –32,000 U.S. jobs in the latest month, wages remain elevated, and only early AI signals in customer-service and software-development roles.
Employer Services pipelines are healthy; ADP targets 4%–7% HCM bookings growth and 6%–8% PEO revenue growth, supported by recent product launches (e.g., ADP Lyric) and an 8,500-strong sales ecosystem.
Client retention stays strong with record Net Promoter Scores, modest small-business moderation, and a retention outlook deemed prudent.
AI is embedded across ADP’s products and services; monetization relies on value-based pricing and productivity improvements rather than standalone AI fees.

Dec 9, 2025, 10:00 AM

Transcript

ADP reports US private sector sheds 32,000 jobs in November

ADP

Hiring

Layoffs

Demand Weakening

ADP’s November report shows US private employers unexpectedly shed 32,000 jobs, the largest monthly decline in years, led by small businesses under 49 employees.
Education and health services sectors added jobs, contrasting with declines in manufacturing, construction, professional/business services, and information services.
The labor market softness has driven odds of a 25 basis point Federal Reserve rate cut in December to nearly 90%.
Official government employment and inflation data for October and November have been delayed by the shutdown, increasing reliance on ADP’s partial report as a key indicator.

Dec 3, 2025, 2:46 PM

WSJ

ADP reports November 2025 private sector job loss

ADP

Hiring

Demand Weakening

Private‐sector employment declined by 32,000 jobs in November 2025, with the largest pullback at small establishments (1–49 employees).
Year-over-year pay growth slowed to 4.4% for job-stayers and 6.3% for job-changers in November 2025.
Job losses were concentrated in manufacturing, professional and business services, information, and construction sectors.
October 2025 job gains were revised upward from 42,000 to 47,000.

Dec 3, 2025, 1:15 PM

Press Release

ADP raises quarterly dividend to $1.70, marking 51st year of increases

ADP

Dividends

Board approves 10% increase in the quarterly cash dividend, lifting the annual rate to $6.80 per share
Marks 51st consecutive year of dividend increases, underscoring the board’s confidence in ADP’s financial strength
New quarterly dividend of $1.70 per share payable January 1, 2026 to shareholders of record December 12, 2025

Nov 12, 2025, 1:00 PM

Press Release

ADP data shows US private sector lost over 11,000 jobs weekly through late October 2025

ADP

Layoffs

Hiring

Demand Weakening

ADP weekly payroll estimates reveal U.S. private-sector employers shed an average of 11,000 jobs per week through late October, the first decline since August.
Earlier in October, private-sector employment had rebounded modestly with 42,000 jobs added, led by education, healthcare, trade, transportation and utilities.
Job losses continued for a third straight month in professional and business services, information and leisure and hospitality sectors.
The data arrive amid delayed government employment statistics due to the shutdown, increasing reliance on private reports and influencing Federal Reserve rate-cut considerations.

Nov 11, 2025, 1:43 PM

Bloomberg

ADP: October 2025 private sector employment up 42,000; pay growth steady at 4.5%

ADP

Hiring

Private sector employment rose by 42,000 jobs in October, marking a rebound from two months of weak hiring.
Year-over-year pay growth held steady at 4.5% for job-stayers and 6.7% for job-changers.
Service-providing sectors drove gains with 33,000 new jobs, led by trade/transportation/utilities and education/health services.
Small and medium establishments saw net losses of 10,000 and 21,000 jobs, respectively, while large firms (500+ employees) added 73,000 jobs.

Nov 5, 2025, 1:15 PM

Press Release

Earnings Transcripts

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