Gallacher Capital Management LLC Purchases 2,048 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• Gallacher Capital Management LLC has significantly increased its position in Automatic Data Processing, Inc. by 259.6% during the second quarter, acquiring an additional 2,048 shares.
• Automatic Data Processing reported earnings of $2.26 per share for the last quarter, surpassing estimates and showing a revenue increase of 6.3% compared to the previous year.
• The company declared a quarterly dividend of $1.54 per share, with a yield of 2.1%, set to be paid on October 1st to shareholders of record.

Gallacher Capital Management LLC raised its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 259.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,837 shares of the business services provider's stock after purchasing an additional 2,048 shares during the quarter. Gallacher Capital Management LLC's holdings in Automatic Data Processing were worth $875,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC increased its stake in Automatic Data Processing by 8.3% during the 2nd quarter. Parallel Advisors LLC now owns 9,744 shares of the business services provider's stock valued at $3,005,000 after purchasing an additional 743 shares in the last quarter. Accelerate Investment Advisors LLC increased its stake in Automatic Data Processing by 17.3% during the 2nd quarter. Accelerate Investment Advisors LLC now owns 836 shares of the business services provider's stock valued at $258,000 after purchasing an additional 123 shares in the last quarter. Bangor Savings Bank increased its stake in Automatic Data Processing by 0.7% during the 2nd quarter. Bangor Savings Bank now owns 4,907 shares of the business services provider's stock valued at $1,513,000 after purchasing an additional 34 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Automatic Data Processing by 14.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 16,261 shares of the business services provider's stock valued at $5,015,000 after purchasing an additional 2,065 shares in the last quarter. Finally, Salem Investment Counselors Inc. increased its stake in Automatic Data Processing by 1.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 2,540 shares of the business services provider's stock valued at $787,000 after purchasing an additional 44 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Performance

ADP opened at $293.50 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The company has a market cap of $118.88 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 2.69 and a beta of 0.82. The company's 50 day moving average is $303.00 and its 200 day moving average is $304.58. Automatic Data Processing, Inc. has a 12-month low of $272.18 and a 12-month high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The firm's revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.09 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $6.16 annualized dividend and a yield of 2.1%. Automatic Data Processing's payout ratio is currently 61.72%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 13,599 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $4,033,055.43. Following the transaction, the vice president owned 17,684 shares of the company's stock, valued at $5,244,543.88. The trade was a 43.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Maria Black sold 23,605 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $298.32, for a total transaction of $7,041,843.60. Following the transaction, the chief executive officer directly owned 76,161 shares in the company, valued at $22,720,349.52. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,516 shares of company stock valued at $15,632,410. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. Dbs Bank upgraded shares of Automatic Data Processing to a "hold" rating in a research note on Thursday, August 21st. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. UBS Group reduced their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research note on Friday, June 13th. Finally, Morgan Stanley lifted their price target on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $317.00.

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.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.