ADP shares rose after a Barron's analyst said that the firm can dominate the $70 billion payroll market.
On May 1, 2008, ADP reported results from its fiscal 3Q2008, which showed an increase in net income of 6% over the same quarter in 2007. Despite the upbeat news, analysts at Citi and Deutsche Bank warned the following day that growth would likely slow in fiscal 2009. ADP's shares fell 4.7% throughout the day on May 2.