No Debt and High Yield Make Automatic Data Processing Inc. (Nasdaq: ADP) a "Buy"
Most people aren't incredibly familiar with Automatic Data Processing Inc. (Nasdaq: ADP), but it's a company every investor should know.
You see, ADP, which provides payroll and human resources services to businesses, has two important traits that investors need in their portfolios right now.
First, it has virtually no debt. Its unleveraged balance sheet has made it one of the few U.S. companies with a AAA credit rating from Standard & Poor's. It also has a perfect credit rating