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The demand for cloud-based human resources, finance, and other critical business operation-related services has increased significantly since the onset of the pandemic. The continuing digitization of businesses globally should further drive the demand for analytics-based human resource management solutions. Indeed, the global human resource management market is expected to grow at a 12.2% CAGR to $43.29 billion by 2028. So, both ADP and WDAY should benefit.
But while WDA’s shares have gained 10.9% in price over the past nine months, ADP has surged 20.9%. In terms of past year’s performance, ADP is again the clear winner with 36% gains versus WDAY’s 12.4% returns. But which of these stocks is a better pick now? Let’s find out.
