Automatic Data Processing, Inc. $ADP Shares Bought by Mattern Capital Management LLC

Key Points

• Mattern Capital Management LLC increased its stake in Automatic Data Processing by 35.3% in the first quarter, buying 12,897 additional shares and bringing its total holding to 49,385 shares worth about $10.0 million.
• Wall Street sentiment on ADP remains cautious: analysts’ average rating is “Hold,” with a consensus price target of $248.64 after several firms lowered their targets.
• ADP reported better-than-expected quarterly results, with earnings of $3.37 per share and revenue of $5.94 billion, both above estimates; the company also guided FY2026 EPS to 11.01–11.11.

Mattern Capital Management LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 35.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. 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 accounts for approximately 1.2% of Mattern Capital Management LLC's holdings, making the stock its 27th largest position. Mattern Capital Management LLC's holdings in Automatic Data Processing were worth $10,034,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Brighton Jones LLC grew its position in Automatic Data Processing by 92.1% in the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after buying an additional 4,808 shares in the last quarter. Bison Wealth LLC raised its position in shares of Automatic Data Processing by 22.8% during the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider's stock worth $1,073,000 after buying an additional 681 shares in the last quarter. Schnieders Capital Management LLC. lifted its stake in shares of Automatic Data Processing by 21.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider's stock worth $388,000 after acquiring an additional 225 shares during the period. Osterweis Capital Management Inc. acquired a new stake in shares of Automatic Data Processing in the 2nd quarter worth approximately $108,000. Finally, Diversify Advisory Services LLC boosted its holdings in shares of Automatic Data Processing by 17.5% in the second quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider's stock valued at $1,641,000 after acquiring an additional 815 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Robert W. Baird dropped their target price on Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. BMO Capital Markets decreased their price target on Automatic Data Processing from $281.00 to $234.00 and set a "market perform" rating for the company in a research note on Tuesday, April 7th. Jefferies Financial Group lowered their price target on Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Weiss Ratings reissued a "hold (c-)" rating on shares of Automatic Data Processing in a research note on Tuesday, July 7th. Finally, Citigroup cut their price objective on Automatic Data Processing from $265.00 to $230.00 and set a "neutral" rating for the company in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of "Hold" and a consensus target price of $248.64.

Automatic Data Processing Stock Up 3.8%

NASDAQ ADP opened at $251.05 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. The company's 50 day simple moving average is $224.79 and its 200 day simple moving average is $224.82. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $315.98. The company has a market capitalization of $100.35 billion, a P/E ratio of 23.42 and a beta of 0.83.

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

Automatic Data Processing Company Profile

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.

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