1 Magnificent Dividend Stock Down 35% to Buy and Hold Forever

Over the past year, a double whammy of headwinds has hit Automatic Data Processing (NASDAQ: ADP), better known as ADP. First, concerns about the sluggish employment market have continued to pressure the payroll processor and HR software provider's shares. More recently, ADP has sold off due to fears that generative artificial intelligence (AI) will hurt the business. Much as with enterprise software stocks, investors are worried that mass adoption of AI will bode poorly for ADP's business model. Will AI ...