Beach Investment Counsel Inc. PA Has $1.35 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Beach Investment Counsel Inc. PA decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,420 shares of the business services provider’s stock after selling 539 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Automatic Data Processing were worth $1,350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after purchasing an additional 4,808 shares in the last quarter. Silver Oak Securities Incorporated increased its stake in Automatic Data Processing by 72.0% in the 4th quarter. Silver Oak Securities Incorporated now owns 2,793 shares of the business services provider’s stock valued at $818,000 after buying an additional 1,169 shares during the period. Consolidated Portfolio Review Corp lifted its position in Automatic Data Processing by 50.1% in the 4th quarter. Consolidated Portfolio Review Corp now owns 1,121 shares of the business services provider’s stock worth $328,000 after buying an additional 374 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $26,723,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter valued at $128,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $326.81 on Friday. The stock has a market capitalization of $132.66 billion, a P/E ratio of 34.08, a P/E/G ratio of 3.62 and a beta of 0.79. The business has a 50-day moving average of $305.96 and a two-hundred day moving average of $302.65. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $329.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $2.88 EPS. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 1.88%. Automatic Data Processing’s payout ratio is presently 63.05%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the firm’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president now owns 7,364 shares of the company’s stock, valued at $2,158,682.96. This trade represents a 6.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Brian L. Michaud sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,451 shares of company stock worth $743,024 in the last quarter. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ADP has been the topic of a number of research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday. Stifel Nicolaus upped their target price on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. TD Securities raised their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Finally, UBS Group boosted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $305.64.

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.