Automatic Data Processing, Inc. (ADP) continues to create buzz among financial analysts and investors alike. Notably, it's an attractive dividend growth stock with new stakes held by Sequoia Financial Advisors and investors such as Ashton Thomas Private Wealth and the State of Alaska Department of Revenue increased their holdings. Despite some shares being sold by entities like J.W. Cole Advisors and Cullinan Associates, ADP has witnessed its Q3 FY24 revenues and earnings surpass analytical estimates. Notably, ADP is dominated strongly by institutional owners; with 81% ownership in shares. The company's short interest has also seen a significant increase. Although analysts downgraded ADP to a 'hold; stance not once, but twice, considerable dividends (a 2.2% yield) are in the future. News surrounding ADP's entrance into a $3.25B five-year credit agreement has piqued interest as well. June's employment rise in ADP's private sector was lower than expected; however ADP's sensible debt usage is on the positive side. It's worth noting that ADP's shares have witnessed a notable 73% return in the span of five years. Yet, recent events also reveal an ADP stock price drop of 3.5% and increased foundation cracks reflect somewhat negatively on the company.
Automatic Data Processing ADP News Analytics from Wed, 25 Oct 2023 07:00:00 GMT to Sun, 07 Jul 2024 19:37:24 GMT -
Rating 3
- Innovation -2
- Information 5
- Rumor -4
