Today’s Market Runner: Automatic Data Processing Can’t Burn Your Long Portfolio. Just Reaches 52-Week High

Today's Market Runner: Automatic Data Processing Can't Burn Your Long Portfolio. Just Reaches 52 Week High

The stock of Automatic Data Processing (NASDAQ:ADP) hit a new 52-week high and has $103.11 target or 7.00% above today’s $96.36 share price. The 8 months bullish chart indicates low risk for the $43.48 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $103.11 price target is reached, the company will be worth $3.04 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 405,976 shares traded hands. Automatic Data Processing (NASDAQ:ADP) has risen 6.07% since April 20, 2016 and is uptrending. It has outperformed by 1.51% the S&P500.

Automatic Data Processing (NASDAQ:ADP) Ratings Coverage

Out of 11 analysts covering Automatic Data (NASDAQ:ADP), 3 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 27% are positive. $100 is the highest target while $76 is the lowest. The $91.38 average target is -5.17% below today’s ($96.36) stock price. Automatic Data has been the topic of 14 analyst reports since August 3, 2015 according to StockzIntelligence Inc. As per Friday, September 9, the company rating was initiated by Wedbush. The stock has “Sell” rating given by Compass Point on Friday, April 15. The rating was maintained by RBC Capital Markets with “Sector Perform” on Monday, August 3. As per Thursday, October 29, the company rating was maintained by Topeka Capital Markets. Argus Research maintained Automatic Data Processing (NASDAQ:ADP) on Tuesday, November 3 with “Buy” rating. On Friday, July 29 the stock rating was downgraded by Robert W. Baird to “Neutral”. William Blair upgraded the stock to “Outperform” rating in Monday, August 31 report. The stock of Automatic Data Processing (NASDAQ:ADP) has “Sector Perform” rating given on Thursday, February 4 by RBC Capital Markets. On Friday, July 29 the stock rating was maintained by Citigroup with “Neutral”. Bernstein upgraded Automatic Data Processing (NASDAQ:ADP) on Monday, July 11 to “Outperform” rating.

According to Zacks Investment Research, “Automatic Data Processing, Inc. is one of the largest providers of computerized transaction processing, data communication, and information services in the world. ADP Employer Services offers a comprehensive range of payroll, human resources, benefits administration, time and attendance, tax filing and reporting, professional employer organization, compliance management and retirement plan services to employers in the United States, Canada, Europe and Latin America.”

Insitutional Activity: The institutional sentiment increased to 0.96 in Q2 2016. Its up 0.07, from 0.89 in 2016Q1. The ratio is positive, as 44 funds sold all Automatic Data Processing shares owned while 379 reduced positions. 59 funds bought stakes while 316 increased positions. They now own 344.03 million shares or 3.92% less from 358.07 million shares in 2016Q1.
Greylin Inv Mangement has invested 0.06% of its portfolio in Automatic Data Processing (NASDAQ:ADP). Fundsmith Llp has 3.34M shares for 5.04% of their US portfolio. Kidder Stephen W holds 99,927 shares or 3.65% of its portfolio. State Board Of Administration Of Florida Retirement Systems holds 0.2% of its portfolio in Automatic Data Processing (NASDAQ:ADP) for 669,277 shares. Norman Fields Gottscho Management Ltd Liability has 3,400 shares for 0.22% of their US portfolio. Gotham Asset Mngmt Ltd Llc holds 248,025 shares or 0.27% of its portfolio. The Ohio-based Park Natl Oh has invested 2.15% in Automatic Data Processing (NASDAQ:ADP). Us Fincl Bank De reported 930,593 shares or 0.33% of all its holdings. Fairfield Bush & Co last reported 0.12% of its portfolio in the stock. Howland Cap Mgmt Ltd Llc holds 0.86% of its portfolio in Automatic Data Processing (NASDAQ:ADP) for 99,725 shares. Loeb Prtn Corporation has 6,700 shares for 0.2% of their US portfolio. Fulton Fincl Bank Na, a Pennsylvania-based fund reported 5,495 shares. Silvercrest Asset Grp Incorporated Limited Company holds 70,755 shares or 0.08% of its portfolio. Ballentine Prtn Ltd Com holds 0.05% or 6,120 shares in its portfolio. Beacon Cap Management has 615 shares for 0% of their US portfolio.

Insider Transactions: Since June 7, 2016, the stock had 0 insider purchases, and 17 selling transactions for $11.32 million net activity. 4,840 shares were sold by Bonarti Michael A, worth $434,245 on Thursday, September 1. 6,592 Automatic Data Processing (NASDAQ:ADP) shares with value of $588,006 were sold by Siegmund Jan. Black Maria also sold $170,660 worth of Automatic Data Processing (NASDAQ:ADP) shares. $79,078 worth of Automatic Data Processing (NASDAQ:ADP) was sold by Dyson Deborah L on Monday, August 1. O’Brien Dermot J had sold 8,532 shares worth $748,256 on Tuesday, June 7. $34,776 worth of Automatic Data Processing (NASDAQ:ADP) shares were sold by Albinson Brock. Benjamin Mark D sold $517,505 worth of stock.

More notable recent Automatic Data Processing (NASDAQ:ADP) news were published by: Forbes.com which released: “Automatic Data Processing a Top Ranked SAFE Dividend Stock With 2.5% Yield (ADP)” on November 09, 2016, also Foxbusiness.com with their article: “PEO Services Growth Propels Automatic Data Processing Earnings Higher” published on November 08, 2016, Finance.Yahoo.com published: “Automatic Data Processing’s Earnings, Dividend Increase” on November 14, 2016. More interesting news about Automatic Data Processing (NASDAQ:ADP) were released by: Nasdaq.com and their article: “Automatic Data Processing to announce dividend increase” published on November 05, 2016 as well as Seekingalpha.com‘s news article titled: “Analysis Of Automatic Data Processing’s Earnings And Dividend Increases” with publication date: November 14, 2016.

ADP Company Profile

Automatic Data Processing, Inc. (ADP), incorporated on June 12, 1961, is a well-known provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Firm also provides business process outsourcing solutions. The Company’s divisions include Employer Services and Professional Employer Organization (PEO) Services. The Firm markets its solutions primarily through its direct sales force. Employer Services also markets its solutions through indirect sales channels, such as marketing relationships with banks and certified public accountants, among others.

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