Mattern Wealth Management LLC Reduces Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Mattern Wealth Management LLC reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 50.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund 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 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Rodgers & Associates LTD acquired a new stake in Automatic Data Processing during the 3rd quarter worth approximately $223,000. Home Federal Bank of Tennessee grew its position in shares of Automatic Data Processing by 1.4% in the 3rd quarter. Home Federal Bank of Tennessee now owns 10,839 shares of the business services provider’s stock valued at $2,999,000 after buying an additional 150 shares during the last quarter. Foundations Investment Advisors LLC increased its stake in Automatic Data Processing by 2.9% in the third quarter. Foundations Investment Advisors LLC now owns 4,529 shares of the business services provider’s stock valued at $1,253,000 after purchasing an additional 126 shares during the period. Telos Capital Management Inc. increased its stake in Automatic Data Processing by 3.2% in the third quarter. Telos Capital Management Inc. now owns 1,452 shares of the business services provider’s stock valued at $402,000 after purchasing an additional 45 shares during the period. Finally, Community Financial Services Group LLC increased its stake in shares of Automatic Data Processing by 2.0% during the third quarter. Community Financial Services Group LLC now owns 7,225 shares of the business services provider’s stock worth $1,999,000 after acquiring an additional 142 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of ADP stock traded up $0.01 on Tuesday, hitting $290.92. The company’s stock had a trading volume of 228,993 shares, compared to its average volume of 1,626,440. 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 stock’s 50 day moving average is $277.27 and its 200-day moving average is $257.33. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $294.18. The company has a market capitalization of $119.07 billion, a PE ratio of 32.26, a PEG ratio of 3.13 and a beta of 0.79.

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

Automatic Data Processing Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently commented on the stock. UBS Group boosted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Barclays raised their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, Stifel Nicolaus raised their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $275.33.

Insider Buying and Selling

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the 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 of the company’s stock, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,817 shares of company stock valued at $15,999,208. Company insiders own 0.26% of the company’s stock.

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.