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

Mattern Capital Management LLC lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,854 shares of the business services provider’s stock after selling 498 shares during the quarter. Automatic Data Processing makes up 1.3% of Mattern Capital Management LLC’s portfolio, making the stock its 18th biggest position. Mattern Capital Management LLC’s holdings in Automatic Data Processing were worth $10,203,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Moloney Securities Asset Management LLC bought a new position in Automatic Data Processing in the third quarter worth $209,000. Littlejohn Financial Services Inc. bought a new position in Automatic Data Processing in the fourth quarter worth $708,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Automatic Data Processing by 5.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after acquiring an additional 15,340 shares during the last quarter. RIA Advisory Group LLC purchased a new stake in shares of Automatic Data Processing in the third quarter worth $470,000. Finally, Dash Acquisitions Inc. grew its stake in shares of Automatic Data Processing by 5.6% in the third quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock worth $15,069,000 after acquiring an additional 2,781 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of recent research reports. Barclays increased their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Jefferies Financial Group increased their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Mizuho increased their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, TD Cowen increased their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given 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 $293.55.

Automatic Data Processing Trading Down 0.4 %

Automatic Data Processing stock opened at $311.97 on Friday. The business has a 50-day simple moving average of $298.44 and a two-hundred day simple moving average of $289.74. The company has a market cap of $127.12 billion, a P/E ratio of 32.53, a P/E/G ratio of 3.61 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $313.72. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

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

Insider Buying and Selling

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at $929,007.90. This represents a 43.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,478 shares of company stock valued at $1,617,241. Corporate insiders own 0.21% of the company’s stock.

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.