Core Insights - Several large-cap stocks, including Automatic Data Processing (ADP) and CoStar Group, have announced significant share buyback programs following substantial declines in their stock prices, indicating management's belief that their shares are undervalued [2][3][6] Group 1: Automatic Data Processing (ADP) - ADP shares have decreased by 20% from their all-time closing high of approximately $321 in June 2025, despite a strong fiscal Q1 earnings report [3] - The company reported better-than-expected sales and adjusted earnings per share (EPS), but indicated a weak hiring environment, as clients did not increase headcount last quarter [4] - ADP announced a $6 billion share buyback program, representing about 5.8% of its $104 billion market capitalization, which could help reduce the outstanding share count and enhance shareholder value [4][5] Group 2: CoStar Group - CoStar Group, valued at $28 billion, is actively competing with Zillow Group in the residential real estate market and has expanded its buyback capacity following a decline in share price [6] - The company's buyback plan is notable for being paired with updated forward guidance, indicating a commitment to ramping up investments while expressing confidence in current share valuations [6]