Automatic Data Processing Inc (ADP) has displayed competitive financial strengths and growth. The company's stock has hit a new 12-month high at $281.72, indicating a positive market sentiment towards ADP. As per the ADP National Employment Report, private sector employment surged by 143,000 jobs in September, with annual pay witnessing a 4.7% rise. Bank of America has maintained a neutral stance on the company, with a target of $281. A notable change in the ownership structure is that 82% of ADP is now owned by institutions, reflecting strong institutional backing. Insider movements include President and CEO Maria Black and Corporate Vice President Michael Bonarti selling shares of ADP. ADP has reportedly been closing in on a $1.2B deal to acquire WorkForce Software. Despite these advances, some market watchers caution about the potential threat of AI to ADP's operations. However, ADP's past performance suggests a consistent growth. The strong job market has aided demand for payroll services, enabling ADP to exceed estimates. But the slowing earnings growth expected in 2025 has made some analysts wary, suggesting that ADP's shares might become unattractive.
Automatic Data Processing ADP News Analytics from Mon, 05 Feb 2024 08:00:00 GMT to Sat, 05 Oct 2024 06:00:20 GMT -
Rating 8
- Innovation 6
- Information 6
- Rumor -7
