Automatic Data Processing Inc’s recent filing unveils that its Corp VP KUTAM SREENIVASA unloaded Company’s shares for reported $11.69 million on Nov 06 ’24. In the deal valued at $300.00 per share,38,975 shares were sold. As a result of this transaction, KUTAM SREENIVASA now holds 32,604 shares worth roughly $9.94 million.
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Then, KUTAM SREENIVASA bought 38,975 shares, generating $11,692,500 in total proceeds.
Before that, Kwon David sold 100 shares. Automatic Data Processing Inc shares valued at $28,000 were divested by the Corp VP at a price of $280.00 per share. As a result of the transaction, Kwon David now holds 10,218 shares, worth roughly $3.11 million.
BofA Securities upgraded its Automatic Data Processing Inc [ADP] rating to a Neutral from a an Underperform in a research note published on January 17, 2024; the price target was increased to $243 from $217. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who increased its forecast for the stock in early January from “an Underperform” to “a Peer perform”. UBS began covering ADP with “Neutral” recommendation on November 07, 2023. RBC Capital Mkts started covering the stock on September 05, 2023. It rated ADP as “a Sector perform”.
Price Performance Review of ADP
On Friday, Automatic Data Processing Inc [NASDAQ:ADP] saw its stock fall -0.04% to $304.73. Over the last five days, the stock has gained 5.74%. Automatic Data Processing Inc shares have risen nearly 30.80% since the year began. Nevertheless, the stocks have risen 35.15% over the past one year. While a 52-week high of $306.71 was reached on 11/08/24, a 52-week low of $223.28 was recorded on 07/10/24. SMA at 50 days reached $284.12, while 200 days put it at $257.53.
Levels Of Support And Resistance For ADP Stock
The 24-hour chart illustrates a support level at 303.60, which if violated will result in even more drops to 302.46. On the upside, there is a resistance level at 306.39. A further resistance level may holdings at 308.05. The Relative Strength Index (RSI) on the 14-day chart is 73.85, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 12.12, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 9.72%. Stochastics %K at 91.70% indicates the stock is a selling.
How much short interest is there in Automatic Data Processing Inc?
A steep rise in short interest was recorded in Automatic Data Processing Inc stocks on 2024-10-15, dropping by -0.2 million shares to a total of 6.54 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 6.74 million shares. There was a decline of -3.08%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on June 02, 2023 when UBS began covering the stock and recommended ‘”a Neutral”‘ rating along with a $230 price target.
