ADP stock strength rating climbs after stock price climbs around 70% in past year
Payroll giant’s relative strength (RS) rating on Friday Automatic data processing (ADP) went from 70 to 73. The upgrade came after ADP stock climbed about 70% in one year.
The new 73 RS rating means that the ADP stock has ranked in the top 27% of all stocks in the past year. In addition to payroll processing, the company offers a variety of cloud-based human resources software and service products, including benefits and tax management.
Other key notes from ADP Stock
The biggest winners in the market usually have an RS rating north of 80 when they launch their biggest climbs. See if Roseland, New Jersey-based automatic data processing can continue to show renewed price force and hit that benchmark.
Among other key ratings, ADP stock has a composite rating of 76.
IBD’s Composite Rating combines five distinct, proprietary Fundamental and Technical Performance ratings into one easy-to-use rating. The best growth stocks have a composite rating of 90 or better. The company has an A SMR rating (sales + profit margins + return on equity), on a scale of A to E with A excellent and E dismal.
In the last quarter, profits rose 5% to $ 1.20 per share on an 11% increase in revenue to $ 3.74 billion. The company is expected to release its latest quarterly figures around October 28. ADP stock hit an intraday low of 127.31 in late September 2020 and rose steadily from there to a high of 217.15 on August 13. inventory reduction. It was trading at 202.18 on Friday afternoon, up 1.1%.
Peer group in business services
The ADP stock ranks 10th among its peers in the business services-outsourcing industry group. Trinette (TNET) and Teletech (TTEC) are also among the best-rated stocks in the group.
Are you looking for winning stocks? Try this simple routine
ADP stock operates on a flat basis with a buy point of 217.25. See if the action can clear the breakout price in heavy trading.
When looking for the best stocks to buy and watch, one factor to watch out for is relative price strength.
Investor’s Business Daily’s proprietary relative strength rating measures price action with a score of 1 (worst) to 99 (best). The rating shows how the movement of a stock’s price over the past 52 weeks compares to all the other stocks in our database.
YOU MAY ALSO LIKE:
Which stocks show improved price performance?
Why should you use IBD’s relative strength rating?
Join IBD Live and learn the best chart reading and trading techniques from the pros
View IBD action lists and get pass / fail ratings for all your actions with IBD Digital
Find out how to reduce risk and increase profits with swing trading