Automatic Data Processing stock slips 1.61% and underperforms competitors
Updated
Updated · MarketWatch · May 6
Automatic Data Processing stock slips 1.61% and underperforms competitors
6 articles · Updated · MarketWatch · May 6
Shares closed at $207.20 on Wednesday, marking a third straight daily loss, while the S&P 500 rose 1.46% and the Dow gained 1.24%.
ADP finished 37.20% below its 52-week high of $329.93 reached on 6 June; Oracle rose 4.68%, while Accenture and Workday fell 2.48% and 4.85%.
Trading volume was 2.2 million shares, about 1.5 million below ADP's 50-day average of 3.7 million, indicating lighter-than-usual investor activity despite the broad market rally.
With strong earnings but a falling stock, is ADP a victim of AI fears or a prime buying opportunity?
Can ADP's internal AI development outpace rivals like Accenture who are aggressively acquiring AI companies?