ADP (ADP) Stock May Be Close To Fair Value Today

Automatic Data Processing has delivered a 49.6% total return over the past 5 years, and that kind of compounding naturally raises a simple question for you as a shareholder or potential buyer. Is the current price around US$269.94 still in line with the cash the business is expected to generate over time, or has the market moved ahead of those cash flows? A 49.6% gain over 5 years puts real weight on whether Automatic Data Processing's current valuation still reflects its underlying cash...