Jim Cramer on Automatic Data Processing: “It is an Excellent Company”

Automatic Data Processing, Inc. (NASDAQ:ADP) is one of the stocks Jim Cramer was recently asked about. A caller mentioned that it has been difficult to own the stock over the last few months and asked if they should sell or hold it. In response, Cramer said:

“You know, I’ll tell you, it’s funny you said that. I am just now beginning to read research that’s negative about ADP. You know what? Thanks for nothing. The stock was at $329. Now, at $283, we’re starting to hear that things aren’t good. I would stay put. I think you’ll be fine. It is an excellent company, and by the way, I’m going to do a twofer. I like Paychex, too.”

Photo by Yiorgos Ntrahas on Unsplash

Automatic Data Processing, Inc. (NASDAQ:ADP) delivers cloud-based human capital management solutions that automate payroll, HR, and workforce functions. Cramer mentioned the company on December 9, 2024 and said:

“Now it was a big cluster with gains in the mid-fifties… Then there’s Automatic Data Processing. By the way, that’s a company synonymous with growing payrolls. Isn’t that an oddity when the Fed’s cutting rates?”

Since the above comment was aired, the company’s stock has declined over 4.5%.

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Disclosure: None. This article is originally published at Insider Monkey.