Forecast Of The Day: ADP’s Number Of Clients Served

-0.60%
Downside
214
Market
213
Trefis
ADP: Automatic Data Processing logo
ADP
Automatic Data Processing

What?

Trefis expects ADP’s (NASDAQ:ADP) Number Of Clients Served in its payroll processing business to increase from 810,000 in 2020 to 818,000 in 2021 and to about 840,000 in 2022.

Why?

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The payroll processing business stands to benefit from the growth of the U.S. economy and a decline in the unemployment rate, following Covid-19.

So What?

However, we think that ADP stock, which has outperformed year-to-date looks slightly overvalued at current levels of around $203 per share. We value the stock at about $185.

See Our Complete Analysis For ADP

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