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ADP Looking to Innovate. Interest Rates Continue to be a Drag.
INVESTMENT CONCLUSION:We attended the ADP analyst day held in NYC today. Our main takeaways: business is overall fundamentally sound (Europe still difficult), ADP is focused on innovation & improving its technology platforms, the current interest rate environment should continue to weigh on results, and management’s goal is to deliver 12% in total shareholder return. We continue to look for a direct driver of results above current expectations, which will be necessary for stock outperformance from present levels given valuation. We remain NEUTRAL.

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Joseph D. Foresi
617-557-2972

 

Joseph D. Foresi

Published by
Joseph D. Foresi
12 years ago

Recent Posts

  • Business Challenge
  • Contract
  • Function
  • Governance
  • IT Applications
  • IT Infrastructure & Applications
  • Multisourcing
  • Service Level Agreement (SLA)
  • Time to Market
  • Transition
  • Vendor Management

The Meat and Potatoes of Multi-Vendors

While the glamorous multi-vendor deals are the ones garnering most of the attention in outsourcing,…

26 years ago
  • Contract
  • Function
  • Governance
  • IT Applications
  • Multisourcing
  • Procurement
  • Service Level Agreement (SLA)
  • Vendor Management

Teaming: Making Multi-Vendor Relationships Work

Since the late 1980's, outsourcing vendors have relied on subcontractors to perform part of the…

26 years ago
  • Business Challenge
  • Communication
  • Contract
  • Energy & Utilities
  • Financial Services & Insurance
  • Governance
  • Industry
  • Manufacturing
  • Time to Market
  • Vendor Management

Lateral Leadership For Organizations That Are Outsourcing

American firms continue their rapid expansion of service and product outsourcing. Companies signed major new…

26 years ago
  • Business Challenge
  • Communication
  • Contract
  • Financial Services & Insurance
  • Governance
  • Healthcare
  • Industry
  • Manufacturing
  • Pricing
  • Service Level Agreement (SLA)
  • Time to Market
  • Vendor Management

The Many Sides of a Re-Do

Outsourcing's maturation as an industry has created a substantial body of experience in 'renegotiating' and…

26 years ago
  • Business Challenge
  • Contract
  • Cost Reduction & Avoidance
  • CPG/Retail
  • Financial Services & Insurance
  • Government
  • Industry
  • Pricing
  • Risk-Reward
  • Service Level Agreement (SLA)
  • Time to Market
  • Transition
  • Vendor Management

EURO: Ready or Not, Here It Comes

On January 1, 1999, eleven member countries of the European Union (EU) will adopt the…

26 years ago
  • Business Challenge
  • Cost Reduction & Avoidance
  • Financial Services & Insurance
  • Function
  • Global Service Delivery
  • Industry
  • IT Applications
  • Manufacturing
  • Procurement

The Rise of Global Business Process Outsourcing

Business Process Outsourcing (BPO) is paving the way for leading companies to compete globally and…

26 years ago