Automatic Data Processing Inc
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Information Technology : IT Services | Large Cap Blend
Company profile

Automatic Data Processing, Inc. (ADP) is a global technology company engaged in providing cloud-based human capital management (HCM) solutions that unite HR, payroll, talent, time, tax and benefits administration. Its segments include Employer Services and Professional Employer Organization (PEO). Its Employer Services segment serves clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of technology-based HCM solutions, including its cloud-based platforms, and human resource outsourcing (HRO) solutions (other than PEO) solutions. Its offerings include Payroll Services, Benefits Administration, Talent Management, HR Management, Workforce Management, Compliance Services, Insurance Services and Retirement Services. Its PEO business, called ADP TotalSource, provides clients with employment administration outsourcing solutions. It serves over 990,000 clients in 140 countries and territories.

Postmarket

Last Trade
Delayed
$229.57
0.58 (0.25%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$228.99
Day's Change
2.26 (1.00%)
Bid close
--
Ask close
--
B/A Size
--
Day's High
229.15
Day's Low
224.57
Volume
(Above Average)
Volume:
2,953,501

10-day average volume:
2,646,789
2,953,501

New York gears up cannabis licensing effort with $20 mln fee for multi-state operators

1:27 pm ET August 29, 2022 (MarketWatch)
Print

Cantor Fitzgerald analyst Pablo Zuanic said Friday it's unclear whether New York State's potential $9 billion legal cannabis market will provide a "significant source of upside" for larger cannabis companies such as Curaleaf Holdings Inc. , Green Thumb Industries Inc. and Columbia Care Inc. , which is being acquired by Cresco Labs Inc. . The state's Office of Cannabis Management on Thursday started accepting application for the first 150 cannabis retail licenses. Cantor Fitzgerald's Zuanic said multi-state cannabis operators will be required to pay $20 million to help fund a $200 million state fund to help finance the first licensees, which will be made up of people who have been jailed or harmed by the War on Drugs. It's not yet been determined which of the eight license types that medical cannabis incumbents will get, Zuanic said. "For an established medical registered organization, at this stage it is not clear to what they will be 'grandfathered' (just cultivators), and let others do processing as well as wholesale distribution?" Zuanic said. Ascend Wellness Holdings Inc. said earlier this week the New York market is not a priority currently and scrapped its acquisition of MedMen's and Green Thumb Industries has sounded "bearish" on New York, although it's building a large cultivation facility in the state, Zuanic said. Cresco Labs has sounded more upbeat due to the wholesale upside but only if they can play in a profitable and scalable manner but we are not sure this is known at this stage, Zuanic said. (This Pulse has been updated to remove the wrong firm name for Cantor Fitzgerald's Pablo Zuanic)

-Steve Gelsi

	

(END) Dow Jones Newswires

August 29, 2022 13:27 ET (17:27 GMT)

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