Mattern Capital Management LLC Has $10.03 Million Stock Position in Automatic Data Processing, Inc. $ADP

Mattern Capital Management LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 35.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,385 shares of the business services provider’s stock after purchasing an additional 12,897 shares during the quarter. Automatic Data Processing makes up 1.2% of Mattern Capital Management LLC’s investment portfolio, making the stock its 27th largest holding. Mattern Capital Management LLC’s holdings in Automatic Data Processing were worth $10,034,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Imprint Wealth LLC acquired a new position in shares of Automatic Data Processing in the third quarter worth about $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $26,000. Bard Associates Inc. acquired a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC lifted its position in shares of Automatic Data Processing by 2,740.0% in the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 137 shares in the last quarter. Finally, Board of the Pension Protection Fund purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 3.8%

Automatic Data Processing stock opened at $251.05 on Tuesday. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $315.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $100.35 billion, a PE ratio of 23.42 and a beta of 0.83. The firm’s 50 day moving average price is $224.79 and its two-hundred day moving average price is $224.82.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.07. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same quarter last year, the business posted $3.06 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, research analysts predict that Automatic Data Processing, Inc. will post 11.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. UBS Group lifted their price objective on shares of Automatic Data Processing from $210.00 to $218.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Mizuho reduced their target price on Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. Argus decreased their target price on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Automatic Data Processing in a report on Tuesday, July 7th. Finally, Citigroup dropped their price target on Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $248.64.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.