Mattern Wealth Management LLC Sells 434 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Mattern Wealth Management LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,850 shares of the business services provider’s stock after selling 434 shares during the quarter. Mattern Wealth Management LLC’s holdings in Automatic Data Processing were worth $2,299,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in Automatic Data Processing during the 3rd quarter worth about $26,000. Dunhill Financial LLC grew its stake in Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares during the period. Hexagon Capital Partners LLC increased its holdings in Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new position in Automatic Data Processing in the fourth quarter valued at approximately $37,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $35,000. 80.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on ADP shares. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Monday. Mizuho upped their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Jefferies Financial Group increased their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada lifted their target price on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Finally, UBS Group increased their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $300.15 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a market cap of $122.30 billion, a PE ratio of 32.03, a PEG ratio of 3.45 and a beta of 0.79. The company’s fifty day moving average is $297.13 and its 200 day moving average is $282.77. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same period last year, the company earned $2.08 EPS. Automatic Data Processing’s revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share 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. Shareholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is currently 65.74%.

Insiders Place Their Bets

In related news, VP David Foskett sold 1,067 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the transaction, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. This trade represents a 14.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,129 shares of company stock worth $12,604,872. 0.21% of the stock is currently owned by corporate insiders.

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.