Best Tech Companies To Buy For 2014

Best Tech Companies To Buy For 2014: Automatic Data Processing Inc.(ADP)

Automatic Data Processing, Inc. provides technology-based outsourcing solutions to employers, and vehicle retailers and manufacturers worldwide. It operates in three segments: Employer Services, Professional Employer Organization Services, and Dealer Services. The Employer Services segment offers a range of human resource (HR)information, payroll processing, and tax and benefits administration solutions and services, including traditional and Web-based outsourcing solutions. Its solutions enable employers to staff, manage, pay, and retain their employees. The Professional Employer Organization Services segment provides employment administration outsourcing solutions, including payroll, payroll tax filing, HR guidance, 401(k) plan administration, benefits administration, compliance services, health and workers? compensation coverage, and other supplemental benefits for employees. The Dealer Services segment offers integrated dealer management systems (DMS) and other busines s management solutions to automotive, truck, motorcycle, marine, recreational vehicle, and heavy machinery retailers. This segment also provides a suite of additional integrated applications to address department and functional area of the dealership, including customer relationship management applications, front-end sales and marketing/advertising solutions, and an IP Telephony phone system integrated into the DMS to help dealerships drive sales processes and business development initiatives, as well as offers computer hardware, hardware maintenance services, software support, system design, and network consulting services. In addition, it designs, establishes, and maintains communications networks for its dealership clients that allow interactive communications among various site locations, as well as links between franchised dealers and their vehicle manufacturer f! ranchisors. The company was founded in 1949 and is headquartered in Roseland, New Jersey.

Advisors' Opinion:

• [By Bloomberg]

  Companies added fewer workers than projected in February, a sign that U.S. employers were waiting for a pickup in demand before boosting headcount, a private report based on payrolls showed today. The 139,000 increase in employment followed a revised 127,000 gain in January that was weaker than initially reported, the weakest two months since August-September 2012, according to the ADP Research Institute in Roseland, N.J. The median forecast of 39 economists surveyed by Bloomberg called for a 155,000 advance. Harsh winter weather conditions, which kept some shoppers away from stores and car dealerships, help explain why companies were hesitant to accelerate hiring at a more robust pace. Faster payroll growth that spurs bigger wage gains would help to boost the consumer purchases that make up almost 70 percent of the economy. "Employment was weak across a number of industries," Mark Zandi, chief economist at Moody's Analytics in West Chester, Pa., said in a statement. Moody's produces the figures with ADP (ADP). "Bad winter weather, especially in mid-month, weighed on payrolls. Job growth is expected to improve with warmer temperatures." Estimates in the Bloomberg survey of economists ranged from gains of 100,000 to 180,000 after a previously reported increase of 175,000 in January. Missing Mark ADP's numbers have missed the mark in tracking the government's jobs figures over the past couple of months. The group's initial estimates showed a 238,000 gain in employment for December followed by a 175,000 January increase. That compares with the Labor Department's initial estimate of an 87,000 gain in December private payrolls and a 142,000 increase in January. Stock-index futures were little changed after the report. The contract on the Standard & Poor's 500 index (^GSPC) expiring this month rose less than 0.1 percent to 1,872 at 9:06 ! a.m. in N! ew York. Payrolls at goods-producing industries increased headcount by 19,000. Factories added 1,000 workers,

• [By Reuters]

  LM Otero/AP U.S. private employers added 175,000 jobs in January, the smallest gain since August as wintry weather kept a lid on hiring, a report by a payrolls processor showed Wednesday. Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 180,000 jobs, with estimates ranging from a low of 125,000 to a high of 210,000. December's increase in jobs was revised down to 227,000 from the initially reported 238,000. The report is jointly developed with Moody's Analytics. Small businesses, defined as having fewer than 50 employees, showed the largest growth by business size, with 75,000 jobs added. Medium businesses, with between 50 and 499 workers, added 66,000, while large companies, with more than 500 staff members, added 34,000 positions, the report showed. By sector, the services sector added 160,000 jobs, down from an upwardly revised 177,000 in December, led by strength in the professional and business services group, which added 49,000. Goods-producing companies added just 16,000 positions after an increase of 50,000 the month before. Manufacturers cut jobs, with a decline of 12,000 after adding 16,000 positions in December. "Cold and stormy winter weather continued to weigh on the job numbers," Moody's Analytics Chief Economist Mark Zandi said in a statement accompanying the report. "Underlying job growth, abstracting from the weather, remains sturdy. Gains are broad based across industries and company sizes, the biggest exception being manufacturing, which shed jobs, but that is not expected to continue." The ADP (ADP) report comes two days ahead of the government's nonfarm payroll report, a measure of the labor market that is more comprehensive and includes both public- and private-sector employment. December's initial reading from ADP failed to foreshadow accurately the Labor Department's report,! which sh! owed that just 74,000 jobs were created in December. That was the lowest job creation total in

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