Market Runner: Automatic Data Processing Just Reaches All Time High?

Market Runner: Automatic Data Processing Just Reaches All Time High?

The stock of Automatic Data Processing (NASDAQ:ADP) reached all time high today, Nov, 30 and still has $103.68 target or 7.00% above today’s $96.90 share price. This indicates more upside for the $43.93 billion company. This technical setup was reported by Barchart.com. If the $103.68 PT is reached, the company will be worth $3.08 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 233,154 shares traded hands. Automatic Data Processing (NASDAQ:ADP) has risen 7.68% since April 27, 2016 and is uptrending. It has outperformed by 2.45% the S&P500.

Analysts await Automatic Data Processing (NASDAQ:ADP) to report earnings on February, 1. They expect $0.81 earnings per share, up 12.50% or $0.09 from last year’s $0.72 per share. ADP’s profit will be $367.22M for 29.91 P/E if the $0.81 EPS becomes a reality. After $0.86 actual earnings per share reported by Automatic Data Processing for the previous quarter, Wall Street now forecasts -5.81% negative EPS growth.

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. Automatic Data has been the topic of 14 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of Automatic Data Processing (NASDAQ:ADP) has “Sell” rating given on Friday, April 15 by Compass Point. On Friday, August 14 the stock rating was maintained by JP Morgan with “Neutral”. As per Monday, August 3, the company rating was maintained by RBC Capital Markets. The firm earned “Neutral” rating on Friday, July 29 by Robert W. Baird. The rating was upgraded by Bernstein to “Outperform” on Monday, July 11. Citigroup maintained Automatic Data Processing (NASDAQ:ADP) on Friday, July 29 with “Neutral” rating. The stock of Automatic Data Processing (NASDAQ:ADP) earned “Sell” rating by Topeka Capital Markets on Thursday, October 29. RBC Capital Markets maintained the shares of ADP in a report on Monday, May 2 with “Sector Perform” rating. The company was maintained on Thursday, February 4 by RBC Capital Markets. The stock has “Neutral” rating given by Wedbush on Friday, September 9.

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 improved, 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.
Boys Arnold & Comm has invested 0.91% of its portfolio in Automatic Data Processing (NASDAQ:ADP). Ballentine Prns Limited Com last reported 0.05% of its portfolio in the stock. Ironwood Counsel Ltd Company holds 1.21% of its portfolio in Automatic Data Processing (NASDAQ:ADP) for 22,571 shares. Moreover, Coho Ptnrs has 4.24% invested in Automatic Data Processing (NASDAQ:ADP) for 1.27 million shares. First Bancorp Sioux Falls, a South Dakota-based fund reported 117 shares. Pensionfund Dsm Netherlands reported 47,000 shares or 0.58% of all its holdings. Tiaa Cref Fsb Mo last reported 0.04% of its portfolio in the stock. Millennium Management Limited Liability Co owns 283,699 shares or 0.06% of their US portfolio. Comerica National Bank has invested 0.18% of its portfolio in Automatic Data Processing (NASDAQ:ADP). Element Ltd Liability has invested 0.52% of its portfolio in Automatic Data Processing (NASDAQ:ADP). Edgemoor Inv holds 0.04% of its portfolio in Automatic Data Processing (NASDAQ:ADP) for 2,918 shares. Cetera Advisors Lc accumulated 8,471 shares or 0.06% of the stock. Fiduciary Co holds 138,867 shares or 0.45% of its portfolio. Kings Point Mngmt accumulated 367 shares or 0.01% of the stock. Fulton National Bank & Trust Na holds 0.05% or 5,495 shares in its portfolio.

Insider Transactions: Since June 7, 2016, the stock had 0 insider purchases, and 17 insider sales for $11.32 million net activity. 5,048 shares were sold by O’Brien Dermot J, worth $451,947 on Thursday, September 1. On Thursday, September 1 Ayala John sold $97,167 worth of the stock or 1,083 shares. Perrotti Thomas J had sold 577 shares worth $51,768 on Thursday, September 1. $312,740 worth of shares were sold by Siegmund Jan on Monday, July 11. Rodriguez Carlos A sold 10,000 shares worth $899,100. 4,840 Automatic Data Processing (NASDAQ:ADP) shares with value of $434,245 were sold by Bonarti Michael A. 249 shares with value of $22,340 were sold by Albinson Brock on Thursday, September 1.

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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