It seems the stock is going down as the market is going up! ADP set to announce earnings July 31st
and I bet the news is going to be bad! They have cooked the books far too long. Jan buttplug Siegmund is out as CFO and new CFO has to juggle the lies. Expect ADP to start tanking, then even more layoffs to attempt to cover up the short-sidedness of the horrible CEO's plan. This well could
mark a big slide in ADP for years to come. What a horrible place to work now!
Carlos Rodriguez Net Worth (https://wallmine.com/people/2823/carlos-a-rodriguez)
The estimated Net Worth of Carlos A Rodriguez is at least $64.1 Million dollars as of 14 February 2019. Mr. Rodriguez owns over 36,364 units of Automatic Data Processing stock worth over $24,250,827 and over the last 12 years he sold ADP stock worth over $29,230,799. In addition, he makes $10,635,700 as President, Chief Executive Officer, and Director at Automatic Data Processing.
Mr. Rodriguez ADP stock SEC Form 4 insider trading
Carlos has made over 27 trades of the Automatic Data Processing stock since 2011, according to the Form 4 filled with the SEC. Most recently he exercised 36,364 units of ADP stock worth $3,149,486 on 14 February 2019.
The largest trade he's ever made was exercising 101,620 units of Automatic Data Processing stock on 7 November 2018 worth over $8,442,590. On average, Carlos trades about 14,949 units every 30 days since 2007. As of 14 February 2019 he still owns at least 148,842 units of Automatic Data Processing stock.
I agree with the first response. Check out Carlos' response in a town hall meeting (April 2018) regarding savings from corporate tax cuts ADP received:
"At an internal town hall meeting on March 15, ADP CEO Carlos Rodriguez fielded an employee question on what the company planned to do with the savings from corporate tax cuts. Rodriguez alluded to other companies that have given bonuses to employees, but said that’s not what ADP had in mind. “You should expect that most of that benefit that we got as a result of tax reform, I think flows through to our investors,” Rodriguez told employees watching nationwide on a company feed. “I recognize that’s not a popular answer and not everybody’s going to like that answer, but I think that is really kind of where ADP is today.”
You can read the entire article here: https://finance.yahoo.com/news/trump-tax-cuts-will-benefit-investors-not-workers-ceo-says-191854710.html
It seems obvious that the only people who are gaining anything from the changes in ADP during the last 18 months are the executives. ADP will continue to lose market share to their competitors who have cloud-based products that actually work and can help clients be productive without the stigma of running payroll through a 60+ year old mainframe. ADP has not been able to stay relevant in the marketplace and their reputation will suffer for years because of the short-sighted executive decisions to hire too many ineffective and inexperienced managers along with treating their client-facing employees with a help desk mentality. Carlos is clueless ... but RICH.