Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Mattern Wealth Management LLC

Mattern Wealth Management LLC cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Accredited Investors Inc. boosted its position in shares of Automatic Data Processing by 4,431.5% during 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 purchasing an additional 2,264,202 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Automatic Data Processing by 28,478.6% in the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock worth $3,305,780,000 after buying an additional 1,190,407 shares during the period. Holocene Advisors LP purchased a new position in Automatic Data Processing during the 3rd quarter valued at about $160,920,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Automatic Data Processing by 332.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after acquiring an additional 479,145 shares in the last quarter. Finally, State Street Corp lifted its holdings 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 valued at $5,098,541,000 after buying an additional 424,328 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADP has been the subject of several research analyst reports. UBS Group upped their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Mizuho lifted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Monday. Barclays boosted their target price on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group boosted 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $289.91.

Read Our Latest Research Report on ADP

Automatic Data Processing Stock Performance

ADP opened at $300.15 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $122.30 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 3.45 and a beta of 0.79. The business’s 50-day moving average price is $297.13 and its two-hundred day moving average price is $282.77. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.12. The company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. 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 dividend payout ratio is 65.74%.

Insider Transactions at Automatic Data Processing

In related news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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