Automatic Data Processing Inc.


ADP

Price

229.89


Change

-2.54


High

233.15


Low

227.76


Avg Volume

1,522,833


PE Ratio

36.37


52 Week High

241.18


52 Week Low

157.04



Profile

Automatic Data Processing, Inc., commonly known as ADP, is an American provider of human resources management software and services. 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 1957, Lautenberg, after successfully serving in sales and marketing, became a full-fledged partner with the two brothers. In 1961, the company changed its name to Automatic Data Processing, Inc. , 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 USD. The company established a subsidiary in the United Kingdom in 1965. In 1970, Lautenberg was noted as being the president of the company. Also in 1970, the company's stock transitioned from trading on American Stock Exchange to trading on the New York Stock Exchange. It acquired the pioneering online computer services company Time Sharing Limited in 1974 and Cyphernetics in 1975. Lautenberg continued in his roles as Chairman and CEO until elected to the United States Senate from New Jersey in 1982.


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