Mattern Capital Management LLC Grows Stake in Automatic Data Processing, Inc. $ADP

Mattern Capital Management LLC lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,325 shares of the business services provider’s stock after buying an additional 108 shares during the period. Automatic Data Processing makes up about 1.3% of Mattern Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. Mattern Capital Management LLC’s holdings in Automatic Data Processing were worth $10,586,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of ADP. Activest Wealth Management lifted its position in Automatic Data Processing by 2,600.0% during the first quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. Clarity Asset Management Inc. purchased a new position in Automatic Data Processing during the first quarter valued at $29,000. von Borstel & Associates Inc. purchased a new position in Automatic Data Processing during the first quarter valued at $30,000. Y.D. More Investments Ltd purchased a new position in Automatic Data Processing during the first quarter valued at $35,000. Finally, Abound Wealth Management lifted its position in Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 43 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $289.87 on Friday. The stock’s 50-day simple moving average is $299.43 and its 200-day simple moving average is $303.40. Automatic Data Processing, Inc. has a 52 week low of $272.62 and a 52 week high of $329.93. The company has a market capitalization of $117.42 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 2.67 and a beta of 0.82. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were issued a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, September 12th. Automatic Data Processing’s payout ratio is 61.72%.

Insider Transactions at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 597 shares of Automatic Data Processing stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $296.90, for a total value of $177,249.30. Following the sale, the vice president directly owned 10,541 shares of the company’s stock, valued at approximately $3,129,622.90. The trade was a 5.36% 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 Michael A. Bonarti sold 8,728 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total value of $2,604,697.04. Following the completion of the sale, the vice president directly owned 80,531 shares in the company, valued at $24,032,866.33. This trade represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,516 shares of company stock valued at $15,632,410. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. UBS Group lowered their target price on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 17th. Morgan Stanley lifted their target price on Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. 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 report on Thursday, June 5th. BMO Capital Markets upgraded Automatic Data Processing to a “hold” rating and set a $340.00 price objective on the stock in a research report on Thursday, July 10th. Finally, Dbs Bank upgraded Automatic Data Processing to a “hold” rating in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $316.70.

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.