Automatic Data Processing Unusual Options Activity For October 30
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Automatic Data Processing (NASDAQ:ADP) by a large investor, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 35% bullish and 64% bearish. The whales have been targeting a price range from $220.0 to $230.0 for ADP over the last 3 months. Morgan Stanley and Barclays have maintained their Equal-Weight and Overweight ratings on ADP, with price targets of $250 and $280 respectively.
October 30, 2023 | 8:16 pm
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NEGATIVE IMPACT
A large investor has taken a bearish stance on Automatic Data Processing (NASDAQ:ADP) through unusual options activity. The sentiment among these traders is more bearish than bullish. Morgan Stanley and Barclays have maintained their positive ratings on ADP.
The unusual options activity indicates that a large investor is expecting the price of ADP to fall. This bearish sentiment, especially if it is based on insider information, could lead to a decrease in the stock price. However, the positive ratings from Morgan Stanley and Barclays suggest that they believe the company's fundamentals are strong.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100