Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Automatic Data Processing Inc. shares valued at $8,172,894 were sold by Rodriguez Carlos A on Sep 10 ’24. At $277.69 per share, Rodriguez Carlos A sold 29,432 shares. The insider’s holdings dropped to 36,741 shares worth approximately $10.23 million following the completion of this transaction.
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Also, Rodriguez Carlos A sold 29,433 shares, netting a total of over 8,093,005 in proceeds. Following the sale of shares at $274.96 each, the insider now holds 36,741 shares.
Before that, Rodriguez Carlos A had added 21,949 shares to its account. In a trade valued at $6,076,561, the Director bought Automatic Data Processing Inc. shares for $276.85 each.
As published in a research note from BofA Securities on January 17, 2024, Automatic Data Processing Inc. [ADP] has been rated up from an Underperform to a Neutral and the price target has been revised to $243 from $217. Analysts at Wolfe Research upgraded the stock from ‘”an Underperform”‘ to ‘”a Peer perform”‘ outlook in a report released in early January. As of November 07, 2023, UBS has initiated its “Neutral” rating for ADP. Earlier on September 05, 2023, RBC Capital Mkts initiated its rating. Their recommendation was “a Sector perform” for ADP stock.
Analyzing ADP Stock Performance
During the last five days, there has been a surge of approximately 3.05%. Over the course of the year, Automatic Data Processing Inc. shares have jumped approximately 19.50%. Shares of the company reached a 52-week high of $279.58 on 09/10/24 and a 52-week low of $231.27 on 07/10/24. A 50-day SMA is recorded $258.90, while a 200-day SMA reached $246.83. Nevertheless, trading volume fell to 1.5 million shares from 1.56 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 275.20, which, if violated, would cause prices to drop to 271.99. In the upper region, resistance lies at 280.31. The next price resistance is at 282.21. RSI (Relative Strength Index) is 67.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.18, which suggests the price will increase in the coming days. Percent R is at 10.01%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
