The ongoing coronavirus crisis still leaves me with a lot of uncertainty even though the stock market has continued to soar to new heights. Despite my belief that things will eventually return to normal, I am still wary of a potentially prolonged recession. I wanted to look at companies that could be great long-term opportunities and are “defensive” in nature. I believe Automatic Data Processing (ADP) is a good candidate.

Just a brief background on the company, ADP is one of the world’s largest providers of human capital management solutions. The company has over 860,000 clients worldwide in 140 countries. The company was founded in 1949 and has undergone a digital transformation to be more suited to the modern world. The company is organized around three segments.

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