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 $11,692,500 were sold by KUTAM SREENIVASA on Nov 06 ’24. At $300.00 per share, KUTAM SREENIVASA sold 38,975 shares. The insider’s holdings dropped to 32,604 shares worth approximately $9.74 million following the completion of this transaction.
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Also, KUTAM SREENIVASA purchased 38,975 shares, netting a total of over 11,692,500 in proceeds.
Before that, Kwon David had sold 100 shares from its account. In a trade valued at $28,000, the Corp VP traded Automatic Data Processing Inc shares for $280.00 each. Upon closing the transaction, the insider’s holdings decreased to 100 shares, worth approximately $3.05 million.
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 drop of approximately -2.90%. Over the course of the year, Automatic Data Processing Inc shares have jumped approximately 28.17%. Shares of the company reached a 52-week high of $309.37 on 11/13/24 and a 52-week low of $231.27 on 07/10/24. A 50-day SMA is recorded $288.47, while a 200-day SMA reached $259.84. Nevertheless, trading volume fell to 2.12 million shares from 1.74 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 295.62, which, if violated, would cause prices to drop to 292.65. In the upper region, resistance lies at 301.09. The next price resistance is at 303.59. RSI (Relative Strength Index) is 56.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.98, which suggests the price will decrease in the coming days. Percent R is at 46.11%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
