Forecast Of The Day: ADP Number of Clients Served

December 22nd, 2022 by Trefis Team
-7.93%
Downside
304
Market
280
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. What To Expect From ADP’s Q1 Results?
  2. What To Expect From ADP’s Q4 Earnings?
  3. Will ADP’s Strong Gains Of Recent Years Continue?
  4. What To Expect From ADP’s Q4 Results?
  5. What To Expect From ADP’s Q3 Results?
  6. With The Job Market Holding Up, What To Expect From ADP’s Q2 Earnings?

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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