Investor Presentaiton
TSR Benchmarking: HCM-Related Players (1) (2)
Assumes Market Capitalization Weighting as of 7/26/17
TSR
ADP vs. Comparable TSR
(Assumes 7/26/17 Close Price)
1,116
0%
1.5
2,342
0%
1.5
135,152
12%
1.0
1,522
0%
0.9
35,656
3%
1.2
574,971
49%
1.1
217,370
19%
1.1
Market
Cap ($M)
Since
Weighting
Beta (3)
Carlos
5 Year
3 Year
1 Year
Since
Carlos
5 Year
3 Year
1 Year
ADP (7/26/17 close price as
"unaffected")
$47,384
1.0
175%
142%
57%
13%
ADP + CDK (7/27/17 intraday
price as "unaffected") (4)(5)
$49,896
1.0
203%
166%
73%
19%
Benefitfocus
Cornerstone OnDemand
IBM
Insperity
Intuit
Microsoft
Oracle
(8%)
(17%)
65%
30%
182%
84%
(1%)
(4%)
(7%)
57%
58%
17%
(8%)
(14%)
(17%)
(7%)
183%
156%
74%
20%
266%
236%
152%
(8%)
(91%)
(94%)
(95%)
22%
179%
153%
72%
22%
(4%) (11%) (15%) (9%)
231%
191%
80%
34%
(56%)
(50%) (23%)
(20%)
75%
83%
33%
27%
101%
59%
24%
(14%)
Paychex
20,867
2%
1.0
146%
112%
51%
(2%)
29%
29%
6%
15%
Paycom
Paylocity
SAP
The Sage Group
TriNet
Ultimate Software
Workday
(6)
Market Cap Weighted
Median
Mean
4,162
0%
1.4
444%
50%
(387%)
(36%)
2,475
0%
1.5
139%
7%
(82%)
6%
129,312
11%
0.8
95%
80%
36%
24%
80%
62%
21%
(11%)
9,787
1%
0.8
142%
127%
54%
0%
33%
15%
3%
13%
2,369
0%
1.5
50%
47%
7%
(34%)
7,007
1%
1.0
258%
149%
73%
3%
(83%)
(8%)
(16%)
10%
21,442
2%
1.6
29%
31%
28%
(18%)
$1,165,551
100%
153%
130%
54%
25%
22%
12%
3%
(12%)
1.1
163%
120%
51%
7%
12%
22%
6%
6%
1.2
157%
120%
79%
14%
19%
22%
(22%)
(1%)
Sources: Bloomberg, Capital IQ
Notes:
1. Assumes broad universe of comparable companies that either solely or partially compete in the HCM landscape.
2. Based on respective USD closing prices adjusted for corporate actions.
3. Betas are forward-looking and benchmarked on the S&P 500 with a weekly periodicity and 2-year lookback period.
4. Assumes ADP's 7/27/17 intraday price of $111.65 as of 12:00PM, which is the assumed ADP "unaffected" price; see Additional Materials page
61 for additional detail.
5. See page 9 for additional detail.
6. Re-weights current market capitalizations in time periods where not entire comparable company set is public.
Copyright
2017 ADP, LLC.
64
ADP
A more human resource.View entire presentation