Gallacher Capital Management LLC Raises Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Gallacher Capital Management LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,223 shares of the business services provider’s stock after purchasing an additional 50 shares during the quarter. Gallacher Capital Management LLC’s holdings in Automatic Data Processing were worth $285,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADP. Charles Schwab Investment Management Inc. lifted its stake in shares of Automatic Data Processing by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,670,083 shares of the business services provider’s stock valued at $2,085,849,000 after purchasing an additional 198,008 shares during the period. Northern Trust Corp lifted its stake in Automatic Data Processing by 5.1% in the 3rd quarter. Northern Trust Corp now owns 5,902,520 shares of the business services provider’s stock valued at $1,420,028,000 after buying an additional 288,234 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Automatic Data Processing by 1.5% in the third quarter. Wellington Management Group LLP now owns 5,242,859 shares of the business services provider’s stock valued at $1,261,327,000 after acquiring an additional 77,187 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Automatic Data Processing by 18.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock worth $855,287,000 after purchasing an additional 553,946 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Automatic Data Processing by 40.7% during the third quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock worth $752,703,000 after acquiring an additional 905,043 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the transaction, the vice president now owns 8,285 shares in the company, valued at approximately $2,071,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares in the company, valued at $5,018,996.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Kwon sold 863 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the transaction, the vice president now directly owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The disclosure for this sale can be found here. Insiders sold 3,829 shares of company stock valued at $965,274 over the last quarter. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ADP. Evercore ISI boosted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. TD Cowen dropped their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. dropped their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. Two investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Trading Up 0.4 %

ADP traded up $0.85 on Monday, reaching $242.74. 1,105,802 shares of the company’s stock were exchanged, compared to its average volume of 1,788,043. The company has a market cap of $99.35 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 2.30 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The company’s 50 day moving average is $245.63 and its 200-day moving average is $238.95.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.09. The company had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.52 earnings per share. Equities analysts predict that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

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.