Oct 29 (Reuters) - Automatic Data Processing ( ADP )

beat Wall Street expectations for first-quarter revenue on

Wednesday, benefiting from strong spending by enterprise clients

on its payroll and human resource software.

ADP's scale has helped it attract strong demand for its

software despite a slower labor market.

Separately, the company said it acquired compensation

management software firm Pequity, as consolidation within the

human capital management industry ramps up.

Shares of the company were down nearly 2% in premarket

trading.

The company reported first-quarter revenue of $5.18 billion,

beating estimates of $5.14 billion, according to data compiled

by LSEG.

It reported first-quarter earnings per share of $2.49,

compared with $2.34 a year ago.