Automatic Data Processing Incorporated (NASDAQ:ADP) Shorted Shares Increased 3.92% After Market Selling


The stock of Automatic Data Processing Incorporated (NASDAQ:ADP) registered an increase of 3.92% in short interest. ADP’s total short interest was 4.94M shares in September as published by FINRA. Its up 3.92% from 4.75M shares, reported previously. With 1.23 million shares average volume, it will take short sellers 4 days to cover their ADP’s short positions. The short interest to Automatic Data Processing Incorporated’s float is 1.08%. About 766,151 shares traded hands. Automatic Data Processing (NASDAQ:ADP) has risen 8.48% since February 8, 2016 and is uptrending. It has underperformed by 8.01% the S&P500.

Automatic Data Processing, Inc. is a well-known provider of human capital management (HCM) solutions and business process outsourcing. The company has a market cap of $40.30 billion. The Firm operates through two divisions: Employer Services and Professional Employer Organization (PEO) Services. It has a 26.68 P/E ratio. The Employer Services segment offers a range of business outsourcing and technology-enabled HCM solutions.

The institutional sentiment increased to 0.89 in Q2 2016. Its up 0.10, from 0.79 in 2016Q1. The ratio increased, as 44 funds sold all Automatic Data Processing shares owned while 379 reduced positions. 59 funds bought stakes while 316 increased positions. They now own 344.03 million shares or 3.92% less from 358.07 million shares in 2016Q1.

Cincinnati Indemnity Co holds 19.12% of its portfolio in Automatic Data Processing for 48,100 shares. Cedar Rock Capital Ltd owns 4.18 million shares or 9.15% of their US portfolio. Moreover, Capital Counsel Llc Ny has 8.56% invested in the company for 1.01 million shares. The Ohio-based Cincinnati Casualty Co has invested 6.75% in the stock. Zevin Asset Management Llc, a Massachusetts-based fund reported 211,764 shares.

Out of 9 analysts covering Automatic Data (NASDAQ:ADP), 2 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 22% are positive. Automatic Data has been the topic of 11 analyst reports since October 29, 2015 according to StockzIntelligence Inc. Wedbush initiated the stock on September 9 with “Neutral” rating.

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