Gallacher Capital Management LLC Has $841,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Gallacher Capital Management LLC raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,874 shares of the business services provider’s stock after purchasing an additional 261 shares during the period. Gallacher Capital Management LLC’s holdings in Automatic Data Processing were worth $841,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in Automatic Data Processing during the 3rd quarter valued at $26,000. Dunhill Financial LLC lifted its position in shares of Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares in the last quarter. Sugar Maple Asset Management LLC bought a new position in shares of Automatic Data Processing during the fourth quarter valued at about $37,000. Wingate Wealth Advisors Inc. bought a new position in shares of Automatic Data Processing during the fourth quarter valued at about $37,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $41,000. 80.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the sale, the vice president now owns 7,244 shares in the company, valued at approximately $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,951 shares of company stock valued at $1,762,074. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group lifted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Barclays boosted their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $296.18.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $291.76 on Friday. The stock has a market capitalization of $118.88 billion, a P/E ratio of 30.42, a PEG ratio of 3.62 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $302.32 and its 200 day moving average is $294.58. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 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 Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.11%. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

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.