ADP Riding the Tailwind of Healthy Labor Markets, but Competition Looms
Wide-moat rated Automatic Data Processing continued to build on the momentum generated over the past few quarters as total revenue came in at $3.5 billion, representing growth of 8% from last year’s fourth quarter. Even more impressive, it was able to increase pretax earnings by 26% from the previous year to $741 million. This was largely driven by continued improvements in profitability that saw pretax margins increase by 300 basis points. Some of this benefit was driven by slower hiring as the...Automatic Data Processing is a provider of cloud-based human capital management (HCM) solutions to employers, providing solutions to businesses of various sizes. The company's two reportable business segments are Employer Services, which provides a range of technology-based HCM solutions, including payroll services, benefits administration, talent management, HR management, workforce management, compliance services, insurance services and retirement services; and Professional Employer Organization, which provides clients with employment administration outsourcing solutions through a relationship in which employees who work for a client are co-employed by the company and the client.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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