Automatic Data Processing, Inc. (ADP) Bundle
Jefferies Downgrades ADP to Underperform Following Thatch Integration
Automatic Data Processing, Inc. (NASDAQ:ADP) was downgraded from Hold to Underperform by Jefferies on Dec 18, 2024. The rating change follows the company announcement of a new integration with Thatch, an Individual Coverage Health Reimbursement Arrangement (ICHRA) platform, which aims to serve more than 900,000 small businesses.
The integration is embedded within the RUN Powered by ADP payroll platform. This system allows employers to manage ICHRA plans directly through their payroll interface, streamlining deductions and carrier payments. The move follows a strategic investment by ADP Ventures into the Thatch platform to support collaborative innovation with startups.
Market response to the downgrade and integration resulted in a share price decrease of $1.14, or 0.4%, bringing the stock to $264.96. During the trading day, the stock reached a high of $268.34 and a low of $264.58. The company currently holds a market capitalization of approximately $107.16B USD with a trading volume of 1,678,732 shares.
Matt Farwell, ADP president of small business, retirement, and insurance, stated that the Thatch integration enables small businesses to maintain flexibility and speed in their operations. For more information on the company background, see the ADP history mission ownership and ADP mission vision.
ADP operates as a major provider of human resources management software, competing with firms like Paychex and Workday. Over the last year, the stock has fluctuated between a high of $329.93 and a low of $247.18. Further details on the company status are available in the ADP financial health and ADP investor profile.
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