What Next for Automatic Data Processing, Inc. (ADP) Stock After Making 52-Week High?

June 13, 2018 - By Karl Shevlin

Automatic Data Processing, Inc. (NASDAQ:ADP) Logo

Investors sentiment decreased to 0.72 in Q1 2018. Its down 0.08, from 0.8 in 2017Q4. It dropped, as 55 investors sold Automatic Data Processing, Inc. shares while 461 reduced holdings. 88 funds opened positions while 285 raised stakes. 339.11 million shares or 0.28% more from 338.15 million shares in 2017Q4 were reported.
Biltmore Wealth Mngmt Ltd Liability stated it has 1,832 shares or 0.2% of all its holdings. Coastline Tru accumulated 64,055 shares or 1.12% of the stock. Guardian Life Of America holds 1,020 shares or 0.02% of its portfolio. New York State Common Retirement Fund stated it has 1.80 million shares. Ballentine Prns Lc reported 8,313 shares or 0.05% of all its holdings. 15,666 were accumulated by Bryn Mawr Comm. Natixis Advsrs Lp invested in 0.25% or 221,121 shares. Generation Inv Limited Liability Partnership stated it has 4.1% in Automatic Data Processing, Inc. (NASDAQ:ADP). Fincl Architects has 15,293 shares for 0.34% of their portfolio. Victory Management holds 0.01% of its portfolio in Automatic Data Processing, Inc. (NASDAQ:ADP) for 34,113 shares. Bnp Paribas Arbitrage Sa reported 101,597 shares. Strs Ohio holds 243,183 shares. Woodmont Inv Counsel Ltd Liability Company reported 5,320 shares stake. Grandfield Dodd Limited Liability Corporation stated it has 0.13% in Automatic Data Processing, Inc. (NASDAQ:ADP). Carderock Capital Mgmt holds 45,000 shares or 2.25% of its portfolio.

Since December 31, 2017, it had 0 insider buys, and 29 insider sales for $44.93 million activity. 66 shares were sold by Perrotti Thomas J, worth $7,980 on Thursday, January 25. Weinstein Donald sold 2,275 shares worth $263,968. Shares for $115,319 were sold by Albinson Brock on Monday, January 22. Shares for $184,720 were sold by Dyson Deborah L. On Wednesday, January 3 the insider Rodriguez Carlos A sold $11.31 million. Another trade for 2,685 shares valued at $362,513 was made by Sackman Stuart on Tuesday, June 5.

The stock of Automatic Data Processing, Inc. (NASDAQ:ADP) hit a new 52-week high and has $150.74 target or 8.00 % above today’s $139.57 share price. The 8 months bullish chart indicates low risk for the $61.48B company. The 1-year high was reported on Jun, 13 by Barchart.com. If the $150.74 price target is reached, the company will be worth $4.92B 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.

The stock increased 0.19% or $0.27 during the last trading session, reaching $139.57. About 323,128 shares traded. Automatic Data Processing, Inc. (NASDAQ:ADP) has risen 29.15% since June 13, 2017 and is uptrending. It has outperformed by 16.58% the S&P500.

Analysts await Automatic Data Processing, Inc. (NASDAQ:ADP) to report earnings on July, 26. They expect $0.89 earnings per share, up 36.92 % or $0.24 from last year’s $0.65 per share. ADP’s profit will be $392.07 million for 39.21 P/E if the $0.89 EPS becomes a reality. After $1.52 actual earnings per share reported by Automatic Data Processing, Inc. for the previous quarter, Wall Street now forecasts -41.45 % negative EPS growth.

Automatic Data Processing, Inc. (NASDAQ:ADP) Ratings Coverage

Among 8 analysts covering Automatic Data Processing (NASDAQ:ADP), 2 have Buy rating, 0 Sell and 6 Hold. Therefore 25% are positive. Automatic Data Processing has $148 highest and $108.0 lowest target. $130’s average target is -6.86% below currents $139.57 stock price. Automatic Data Processing had 16 analyst reports since January 12, 2018 according to SRatingsIntel. Robert W. Baird maintained Automatic Data Processing, Inc. (NASDAQ:ADP) on Wednesday, January 31 with “Hold” rating. The stock of Automatic Data Processing, Inc. (NASDAQ:ADP) has “Buy” rating given on Friday, May 4 by Bank of America. The rating was upgraded by RBC Capital Markets to “Buy” on Monday, April 2. Stifel Nicolaus maintained the stock with “Hold” rating in Wednesday, January 31 report. The stock of Automatic Data Processing, Inc. (NASDAQ:ADP) has “Hold” rating given on Wednesday, April 18 by BMO Capital Markets. BMO Capital Markets maintained Automatic Data Processing, Inc. (NASDAQ:ADP) rating on Wednesday, January 31. BMO Capital Markets has “Hold” rating and $121.0 target. The stock of Automatic Data Processing, Inc. (NASDAQ:ADP) earned “Market Perform” rating by BMO Capital Markets on Thursday, May 3. On Thursday, May 3 the stock rating was maintained by Morgan Stanley with “Equal-Weight”. Citigroup maintained Automatic Data Processing, Inc. (NASDAQ:ADP) rating on Friday, January 12. Citigroup has “Hold” rating and $118.0 target. The firm has “Hold” rating given on Wednesday, April 4 by Stifel Nicolaus.

More notable recent Automatic Data Processing, Inc. (NASDAQ:ADP) news were published by: Prnewswire.com which released: “ADP Continues Commitment to People-Centered Innovation through New Partnership with Slack” on June 05, 2018, also Prnewswire.com with their article: “ADP to Enable Organizations to Seamlessly Connect Financial and People Data to Drive Better Business Outcomes …” published on June 07, 2018, Prnewswire.com published: “Celebrate Pride Month! ADP Promotes Diversity and Inclusion with LGBTQ Employee Self-Identification” on June 06, 2018. More interesting news about Automatic Data Processing, Inc. (NASDAQ:ADP) were released by: Benzinga.com and their article: “10 Biggest Price Target Changes For Wednesday” published on June 13, 2018 as well as Benzinga.com‘s news article titled: “The Week Ahead: Central Bank Bonanza, AT&T Court Ruling, North Korea Summit” with publication date: June 11, 2018.

Automatic Data Processing, Inc., together with its subsidiaries, provides business process outsourcing services worldwide. The company has market cap of $61.48 billion. The firm operates through two divisions, Employer Services and Professional Employer Organization Services. It has a 36.06 P/E ratio. The Employer Services segment offers various human resources (HR) business process outsourcing and technology-enabled human capital management solutions to clients.

Automatic Data Processing, Inc. (NASDAQ:ADP) Institutional Positions Chart

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