Mattern Wealth Management LLC Has $2.29 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Mattern Wealth Management LLC decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 50.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,284 shares of the business services provider’s stock after selling 8,515 shares during the quarter. Mattern Wealth Management LLC’s holdings in Automatic Data Processing were worth $2,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ADP. Global Assets Advisory LLC bought a new position in shares of Automatic Data Processing during the 1st quarter worth approximately $12,375,000. Evanson Asset Management LLC acquired a new stake in Automatic Data Processing during the first quarter worth approximately $213,000. New England Professional Planning Group Inc. acquired a new stake in Automatic Data Processing during the first quarter worth approximately $208,000. Thompson Investment Management Inc. boosted its holdings in Automatic Data Processing by 13.5% in the first quarter. Thompson Investment Management Inc. now owns 1,234 shares of the business services provider’s stock worth $308,000 after acquiring an additional 147 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its holdings in Automatic Data Processing by 40.3% in the first quarter. Kingswood Wealth Advisors LLC now owns 4,561 shares of the business services provider’s stock worth $1,139,000 after acquiring an additional 1,310 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the firm’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 transaction, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Kwon sold 846 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock worth $15,999,208 in the last three months. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Up 0.0 %

Shares of ADP stock traded up $0.01 during midday trading on Tuesday, reaching $290.92. 228,993 shares of the stock were exchanged, compared to its average volume of 1,626,440. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $294.18. The company’s 50 day moving average is $277.27 and its two-hundred day moving average is $257.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The firm has a market cap of $119.07 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79.

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

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $1.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.92%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Analyst Ratings Changes

ADP has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Stifel Nicolaus lifted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. UBS Group lifted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, 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 note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $275.33.

About Automatic Data Processing

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.