ADP 2011 Annual Report Download - page 12

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Performance Graph
The following graph compares the cumulative return on the Company
’
s common stock
(a)
for the most recent five years with the
cumulative return on the S&P 500 Index and a Peer Group Index
(b)
, assuming an initial investment of $100 on June 30, 2005, with all
dividends reinvested.
12
(a)
On March 30, 2007, the Company completed the spin
-
off of its former Brokerage Services Group business, comprised of
Brokerage Services and Securities Clearing and Outsourcing Services, into an independent publicly traded company called
Broadridge Financial Solutions, Inc. The cumulative returns of the Company
’
s common stock have been adjusted to reflect the
spin
-
off.
(b)
The Peer Group Index is comprised of the following companies:
Insperity, Inc. (formerly named Administaff, Inc.)
Paychex, Inc.
Computer Sciences Corporation
The Ultimate Software Group, Inc.
Global Payments Inc.
Total System Services, Inc.
Intuit Inc.
The Western Union Company
Hewitt Associates, Inc. was acquired in 2010 and was removed from the Peer Group Index