On July 7, Automatic Data Processing rose 3.09% in regular trading, trading at approximately $247.5/share, with turnover of $79.37 million.

On the news front, the June ADP private payroll report came in at just 98,000, significantly below the market expectation of 118,000 and down from May's 122,000, marking a three-month low. The soft labor market data fueled expectations for a Federal Reserve rate cut, driving broad-based strength across the human resources sector. Peer stocks rallied in tandem, with Paylocity up 4.71%, Robert Half up 4.03%, Paychex up 3.68%, Paycom up 2.77%, and Kanzhun Limited up 2.38%.

Additionally, TD Cowen recently raised its price target on the company to $223, providing further support to market sentiment. The company last reported fiscal Q3 results on April 29, beating estimates with adjusted EPS of $3.37 versus the $3.29 consensus and revenue of $5.94 billion versus the $5.85 billion estimate, while raising full-year guidance.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)