This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

Automatic Data Processing, based in Roseland, New Jersey, is a leading cloud-based business services company. The firm is focused on Human Capital Management and has two primary segments: Employer Services, which provides payroll services to companies; and Professional Employer Organization Services, which provides employment administration outsourcing services, including HR, benefits management, retirement, and compliance programs. The shares are a component of the S&P 500. The company has 63,000 employees and approximately 860,000 clients.

Economy, Earnings Shaping up as Tailwinds for Early 2024

ADP is a provider of payroll and human capital management solutions servicing the full scope of businesses from micro to global enterprises. ADP was established in 1949 and serves over 1 million clients primarily in the United States. ADP's employer services segment offers payroll, human capital management solutions, human resources outsourcing, insurance and retirement services. The smaller but faster-growing professional employer organization segment provides HR outsourcing solutions to small and midsize businesses through a co-employment model.