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Automatic Data ProcessingADPPAST TOP PICKDec 10, 2002Stock price when the opinion was issued
As of Jun 18, 2026. Market Open.
(A Top Pick Jan 13/20, Down 5%) A play in payroll in the US. The company has increased dividends for 45 consecutive years. Effectively the same as Visa in terms of payment processing. Buy when it's on sale. A great company and a core holding. Would add on weakness.
non-FANG suggestion? He likes the payment processing space -- ADP, Paychex, Visa, or Mastercard. He would like to buy on a dip.
A payroll and HR company. A fairly pricey stock. Trades at about a 40% premium to the market. 70% of their business comes from payroll services and 30% from Human Resources operations. Over the last 6-7 years, the US has produced 15 million private sector jobs, which is great for a company like this. This is now a little too rich, and a little too late to the cycle.