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 $28,000 were sold by Kwon David on Sep 17 ’24. At $280.00 per share, Kwon David sold 100 shares. The insider’s holdings dropped to 10,218 shares worth approximately $2.9 million following the completion of this transaction.
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Also, DeSilva Joseph sold 1,383 shares, netting a total of over 387,240 in proceeds. Following the sale of shares at $280.00 each, the insider now holds 18,607 shares.
Before that, Kwon David had added 100 shares to its account. In a trade valued at $28,000, the Officer bought Automatic Data Processing Inc. shares for $280.00 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 3.02%. Over the course of the year, Automatic Data Processing Inc. shares have jumped approximately 21.71%. Shares of the company reached a 52-week high of $283.76 on 10/02/24 and a 52-week low of $231.27 on 07/10/24. A 50-day SMA is recorded $269.01, while a 200-day SMA reached $249.98. Nevertheless, trading volume fell to 1.3 million shares from 1.91 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 280.23, which, if violated, would cause prices to drop to 276.92. In the upper region, resistance lies at 285.31. The next price resistance is at 287.08. RSI (Relative Strength Index) is 66.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.79, which suggests the price will increase in the coming days. Percent R is at 1.81%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
