Forecast Of The Day: ADP Payroll Processing Clients
ADP’s (NASDAQ:ADP) Number of Clients Served for its payroll processing business rose from 810,000 in FY’19 to 920,000 in FY’21 (FY ends June). Trefis expects the metric to rise to about 980,000 in FY’23.
A quick recovery following Covid-19 and a strong labor market have helped ADP grow its client base.
However, we think the projected growth is fully priced into ADP stock. We value ADP at $213 per share, roughly in line with the current market price.
See Our Complete Analysis For ADP
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|S&P 500 Return||2%||-19%||72%|
|Trefis Multi-Strategy Portfolio||3%||-20%||213%|
 Month-to-date and year-to-date as of 7/12/2022
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