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.

ADP Logo
(Photo : ADP)

READ NEXT: ADP National Employment Report: Private Sector Employment Increased by 208,000 Jobs in September; Annual Pay was Up 7.8% 

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.

READ MORE: ADP Launches Voice of the Employee Survey Solution to Help Improve Employee Workplace Experience