Forecast Of The Day: ADP Number of Clients Served

+5.34%
Upside
225
Market
237
Trefis
ADP: Automatic Data Processing logo
ADP
Automatic Data Processing

What?

ADP’s (NYSE:ADP) Number of Clients Served rose from around 810,000 in 2019 to 920,000 in 2021. Trefis expects the metric to grow to about 1.06 million by 2024.

Why?

Relevant Articles
  1. With The Job Market Holding Up, What To Expect From ADP’s Q2 Earnings?
  2. Company Of The Day: ADP
  3. Forecast Of The Day: ADP Payroll Processing Clients
  4. Why Is The Market Rewarding ADP Stock?
  5. Is Paycom Stock A Good Pick To Realize Long-Term Gains?
  6. Will ADP Stock Trend Lower?

Growth is being driven by a strong job market and rising demand for payroll services.

So What?

However, we think the projected growth is priced into ADP stock. We value ADP stock at $237 per share roughly in line with the market price.

See Our Complete Analysis For ADP

What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.

Returns Dec 2022
MTD [1]
2022
YTD [1]
2017-22
Total [2]
 ADP Return -6% 0% 140%
 S&P 500 Return -5% -19% 73%
 Trefis Multi-Strategy Portfolio -5% -21% 216%

[1] Month-to-date and year-to-date as of 12/22/2022
[2] Cumulative total returns since the end of 2016

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