(ADP) - Analyzing Automatic Data Processing's Short Interest
Portfolio Pulse from Benzinga Insights
Automatic Data Processing's (NYSE:ADP) short interest has decreased by 11.9% since the last report, with 4.56 million shares sold short, representing 1.11% of its float. This decline in short interest could indicate a more bullish sentiment towards ADP among investors. Compared to its peers, ADP has a lower short interest percentage of float, with the average for its peer group being 5.34%.
May 02, 2024 | 4:15 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Automatic Data Processing's short interest has decreased, indicating a potentially more bullish sentiment towards the stock in the short term.
A decrease in short interest often suggests that investors are becoming more optimistic about a stock's future performance. Given that ADP's short interest is significantly lower than its peer average, this could imply a stronger confidence in ADP's market position and potential for stock price appreciation in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90