Analysts at Vetr Inc. upgraded shares of Automatic Data Processing Inc. (NASDAQ: ADP) from Buy to Strong-Buy today. With a rating of Strong-Buy on the stock, the company has a 52-week high of $96.00. As a means of comparison, a number of other analysts have commented on the stock in recent days, and the company has earned a consensus one-year price target of $93.08, above the opening price of $87.12, a difference of 10.60 percent. Usually, after analysts give an upgrade report on a stock, they will later issue sporadic updates, such as a price target change.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Yesterday Automatic Data Processing Inc. (NASDAQ: ADP) shares last traded at $87.79, which is a spike of $1.23 compared to the previous closing price. Opening at $87.12, they ranged from $86.93 and $88.09 throughout the day.
Automatic Data Processing Inc. (NASDAQ: ADP) currently has a market cap of 40.05B.
The stock’s average daily volume is 1,753,240 shares out of a total float 455,428,000 and some 1,738,728 shares crossed the trading desk yesterday, 0 percent below normal. Swing traders often use swings in trading volume to determine substantial volume growth or dissemination by institutional investors, so trading volume is likely to increase in the next few days.
While an increase in trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a series of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is critical.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind, Automatic Data Processing Inc. (NASDAQ: ADP) now has a 50-day MA of $89.10 and 200-day MA of $89.31. It has traded in a 52-week range between $76.65 – 96.00 and today’s last price is 0.09% lower than the 52 week high of $96.00.
Earnings growth is a critical factor to consider when investing in stocks and investors seek companies that have grown their earnings at least 25% or more over 3 consecutive years.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.