The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Automatic Data Processing Inc. shares valued at $12,263,965 were sold by Rodriguez Carlos A on Sep 14. At $234.70 per share, Rodriguez Carlos A sold 52,254 shares. The insider’s holdings dropped to 44,426 shares worth approximately $10.24 million following the completion of this transaction.
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Also, Rodriguez Carlos A sold 37,594 shares, netting a total of over 8,945,641 in proceeds. Following the sale of shares at $237.95 each, the insider now holds 44,426 shares.
Before that, D’Ambrosio Christopher had sold 174 shares from its account. In a trade valued at $41,184, the Corp. VP traded Automatic Data Processing Inc. shares for $236.69 each. Upon closing the transaction, the insider’s holdings decreased to 174 shares, worth approximately $0.73 million.
As published in a research note from BofA Securities on March 09, 2022, Automatic Data Processing Inc. [ADP] has been rated up from an Underperform to a Neutral and the price target has been revised to $223. This represents a -3.35% premium over Thursday’s closing price. Analysts at JP Morgan downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in mid August. As of August 16, 2021, Credit Suisse has decreased its “an Outperform” rating to a “Neutral” for ADP. Earlier on August 11, 2021, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for ADP stock which previously was a “a Buy”.
Analyzing ADP’s Price Performance
On Thursday, Automatic Data Processing Inc. [NASDAQ: ADP] rose 0.02% to $230.47. The stock’s lowest price that day was $228.85, but it reached a high of $232.49 in the same session. During the last five days, there has been a drop of approximately -0.10%. Over the course of the year, Automatic Data Processing Inc. shares have dropped approximately -6.53%. Shares of the company reached a 52-week high of $261.59 on 08/18/22 and a 52-week low of $192.26 on 02/24/22. A 50-day SMA is recorded $240.24, while a 200-day SMA reached $224.30. Nevertheless, trading volume fell to 1.62 million shares from 1.43 million shares the previous day.
Support And Resistance Levels for Automatic Data Processing Inc. (ADP)
According to the 24-hour chart, there is a support level at 228.72, which, if violated, would cause prices to drop to 226.96. In the upper region, resistance lies at 232.36. The next price resistance is at 234.24. RSI (Relative Strength Index) is 36.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.14, which suggests the price will decrease in the coming days. Percent R is at 88.11%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Automatic Data Processing Inc. subject to short interest?
Stocks of Automatic Data Processing Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.28 million shares to 3.98 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.7 million shares. A jump of 7.04% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.53 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.53.
Which companies own the most shares of Automatic Data Processing Inc. (ADP)?
According to The Vanguard Group, Inc. filings, the company currently owns 37,360,801 shares, which is about 8.99% of the total ADP shares outstanding. The investor’s shares have appreciated by 461,055 from its previous 13-F filing of 36899746.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $5,057,903,884. SSgA Funds Management, Inc. reduced a -2.86% interest valued at $4.33 billion while AllianceBernstein LP purchased a 25,960 stake. A total of 292,302 shares of Automatic Data Processing Inc. were bought by Geode Capital Management LLC during the quarter, and -243,601 were sold by Walter Scott & Partners Ltd.. In its current portfolio, Charles Schwab Investment Managem holds 7,114,849 shares valued at $1.74 billion.
In terms of Automatic Data Processing Inc. share price expectations, FactSet research, analysts set an average price target of $246.71 in the next 12 months, up nearly 7.63% from the previous closing price of $230.42. Analysts anticipate Automatic Data Processing Inc. stock to reach $280.00 by 2022, with the lowest price target being $208.00. In spite of this, 21 analysts ranked Automatic Data Processing Inc. stock as a Hold at the end of 2022. On February 11, 2021, Mizuho assigned a price target of “a Buy” to the stock and initiated coverage with a $210.