Mattern Capital Management LLC Sells 498 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Mattern Capital Management LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,854 shares of the business services provider’s stock after selling 498 shares during the period. Automatic Data Processing comprises approximately 1.3% of Mattern Capital Management LLC’s investment portfolio, making the stock its 18th largest holding. Mattern Capital Management LLC’s holdings in Automatic Data Processing were worth $10,203,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp raised its stake in shares of Automatic Data Processing by 2.4% during the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock worth $5,098,541,000 after purchasing an additional 424,328 shares during the period. Geode Capital Management LLC raised its stake in Automatic Data Processing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock valued at $2,906,257,000 after acquiring an additional 286,080 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Automatic Data Processing by 1.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock valued at $896,197,000 after acquiring an additional 41,709 shares during the period. Accredited Investors Inc. raised its stake in Automatic Data Processing by 4,431.5% in the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after acquiring an additional 2,264,202 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Automatic Data Processing by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,252,807 shares of the business services provider’s stock valued at $623,419,000 after acquiring an additional 17,717 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Down 0.4 %

Shares of NASDAQ ADP opened at $311.97 on Friday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $313.72. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $127.12 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 3.61 and a beta of 0.79. The business has a 50-day moving average of $298.44 and a 200-day moving average of $289.74.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. TD Cowen boosted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Mizuho boosted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $293.55.

Insiders Place Their Bets

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now owns 68,856 shares in the company, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock valued at $1,617,241 over the last quarter. 0.21% of the stock is owned by corporate 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.