Stock Rise on ADP Jobs Report
Paycheck processing firm Automatic Data Processing (NASDAQ:ADP) said that payrolls increased 91,000 in September, as compared to economists’ forecasts of 75,000. The stock market has reacted positively to the news. The S&P 500 (NYSE:SPY) is up 6.84 points, or 0.61%, to 1,130.79 and the NASDAQ (NASDAQ:QQQ) is up 18.77 points, or 0.78%, to 2,423.33. Shares up Paychex (NASDAQ:PAYX) and Equifax (NYSE:EFX) are up in sympathy.
Despite the good news, the consensus is that the unemployment rate will remain unchanged, at 9.1%. A calendar of related economics reports can be found here.
Following is some information on ADP’s stock price performance, along with that of its competitors:
- Automatic Data Processing (NASDAQ:ADP): The shares recently traded at $47.53, up $0.21, or 0.44%, on the day. The shares have traded in a 52-week range of $41.50 to $55.12 and its market capitalization is $23.14 billion. About the company: Automatic Data Processing, Inc. is a global provider of business outsourcing solutions. The Company’s services include a wide range of human resource, payroll, tax and benefits administration solutions. Automatic Data also provides solutions to auto, truck, motorcycle, marine and recreational vehicle dealers.
- Paychex, Inc. (NASDAQ:PAYX): The shares recently traded at $26.08, up $0.18, or 0.77%, on the day. The shares have traded in a 52-week range of $25.12 to $33.91 and its market capitalization is $9.45 billion. About the company: Paychex, Inc. provides comprehensive payroll and integrated human resource and employee benefits outsourcing solutions for small- to medium-sized businesses in the United States. The Company’s services range from calculating payroll and filing tax payments to administering retirement plans and workers’ compensation.
- Equifax, Inc. (NYSE:EFX): The shares recently traded at $31.36, up $0.44, or 1.55%, on the day. The shares have traded in a 52-week range of $28.59 to $39.90 and its market capitalization is $3.84 billion. About the company: Equifax, Inc. brings buyers and sellers together through its information management, transaction processing, direct marketing, and customer relationship management businesses. The Company serves the financial services, retail, credit card, telecommunications/utilities, transportation, information technology and healthcare industries and government.
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