Automatic Data Processing, Inc. (ADP) continues to show strong promise in the investment market as several investment firms increased their stake in the company. Madison Asset Management LLC, Gryphon Financial Partners LLC, and Assetmark Inc. being among them. ADP has surpassed analysts' earnings and revenue estimates consecutively over several quarters, prompting their shares to be upgraded to a "Buy" by StockNews.com. Despite occasional dips following earnings announcements, the company has shown resilience by bouncing back, underpinned by 49 years of strong dividend history. Furthermore, ADP's usage of debt is deemed sensible, indicating good financial health. The company exhibits a robust business model benefiting from advancements in artificial intelligence technology and a strong U.S labour market. ADP has also displayed impressive dividend growth predicted to continue into double digits. Despite some insiders selling shares, institutional ownership stands at a dominating 82%, signifying heavy backing by established entities. Also, ADP's earnings and revenues have consistently topped estimates and continue to grow, indicating potential for continuous upward trajectory in share price.
Automatic Data Processing ADP News Analytics from Wed, 26 Jul 2023 07:00:00 GMT to Sun, 02 Jun 2024 18:23:22 GMT -
Rating 5
- Innovation 4
- Information 7
- Rumor -3
