ADP Authorized to Purchase $5 Billion of its Common Stock

Automatic Data Processing Inc

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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.

ADP Authorized to Purchase $5 Billion of its Common Stock

4:05 pm ET November 9, 2022 (PR Newswire) Print

The board of directors of ADP (Nasdaq: ADP) authorized the purchase of $5 billion of its common stock, Carlos Rodriguez, chief executive officer, announced today.

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This authorization replaces in its entirety the previous 2019 authorization to purchase $5 billion of its common stock. ADP had approximately 415 million common shares outstanding as of October 28, 2022.

About ADP (Nasdaq: ADP)Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential. HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people. Learn more at ADP.com.

ADP, the ADP logo, and Always Designing for People are trademarks of ADP, Inc.

ADP - Investor Relations

Investor Relations Contacts: Danyal Hussain, CFA973.974.7836Danyal.Hussain@adp.com

Matthew Keating, CFA973.974.3037Matthew.Keating@adp.com

ADP - Media

Media Contact:Allyce Hackmann201.400.4583Allyce.Hackmann@adp.com

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SOURCE ADP - IR

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COMTEX_418491662/1005/2022-11-09T16:05:19

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ADP Authorized to Purchase $5 Billion of its Common Stock