Mattern Capital Management LLC Sells 146 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Mattern Capital Management LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 35,352 shares of the business services provider’s stock after selling 146 shares during the period. Mattern Capital Management LLC’s holdings in Automatic Data Processing were worth $9,783,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. purchased a new position in Automatic Data Processing during the second quarter valued at $27,000. Keener Financial Planning LLC lifted its position in Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after buying an additional 76 shares during the period. Hexagon Capital Partners LLC lifted its position in Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares during the period. Crewe Advisors LLC purchased a new position in Automatic Data Processing during the first quarter valued at $33,000. Finally, Pathway Financial Advisers LLC purchased a new position in Automatic Data Processing during the first quarter valued at $36,000. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ADP shares. JPMorgan Chase & Co. raised their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Barclays lifted their price target on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Stifel Nicolaus lifted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, UBS Group lifted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $277.64.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $287.96 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $294.18. The business has a 50-day simple moving average of $279.40 and a two-hundred day simple moving average of $258.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $117.86 billion, a price-to-earnings ratio of 32.14, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. Automatic Data Processing’s revenue was up 7.2% on a year-over-year basis. On average, analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the sale, the chief executive officer now owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $15,999,208 in the last three months. 0.26% of the stock is currently owned by company insiders.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.