Subject: ADP
Adding this to my watch list...

Stock is down from a high of $326 to $257 (the recent low was $249). TTM EPS of $10.13 with solid history of growth.

Positives
* Proven business model
* Strong moat
* Decent margins

Negatives
* Macro US exposure would be a risk
* Valuation is lower than historical levels, but still not "cheap"


Anyone else watching this? I feel like if it got down near $200 it would be worth a strong look. (last traded at that level in 2022).

tecmo
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