Geneva Partners LLC Purchases 6,227 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Geneva Partners LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 146.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,472 shares of the business services provider's stock after buying an additional 6,227 shares during the period. Automatic Data Processing comprises about 1.6% of Geneva Partners LLC's investment portfolio, making the stock its 23rd largest position. Geneva Partners LLC's holdings in Automatic Data Processing were worth $3,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sentinus LLC raised its holdings in Automatic Data Processing by 2.3% during the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after buying an additional 35 shares during the period. Rehmann Capital Advisory Group raised its holdings in Automatic Data Processing by 1.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock worth $1,079,000 after buying an additional 36 shares during the period. Detalus Advisors LLC raised its holdings in Automatic Data Processing by 2.4% during the 1st quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider's stock worth $478,000 after buying an additional 37 shares during the period. Main Street Group LTD raised its holdings in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after buying an additional 38 shares during the period. Finally, Howard Financial Services LTD. raised its holdings in Automatic Data Processing by 2.2% during the 1st quarter. Howard Financial Services LTD. now owns 1,735 shares of the business services provider's stock worth $530,000 after buying an additional 38 shares during the period. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Down 0.5%

Shares of ADP traded down $1.42 during mid-day trading on Friday, hitting $304.40. 170,267 shares of the company's stock were exchanged, compared to its average volume of 1,707,655. The company has a market cap of $123.56 billion, a PE ratio of 31.11, a P/E/G ratio of 2.82 and a beta of 0.76. Automatic Data Processing, Inc. has a 52 week low of $233.14 and a 52 week high of $329.93. The company has a 50-day simple moving average of $313.02 and a 200 day simple moving average of $303.85. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The company had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same period last year, the business earned $2.88 EPS. The business's quarterly revenue was up 5.7% on a year-over-year basis. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on ADP shares. Morgan Stanley raised their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 17th. TD Securities raised their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Royal Bank Of Canada restated a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. UBS Group dropped their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a report on Friday, June 13th. Finally, Stifel Nicolaus raised their target price on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and an average target price of $309.62.

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.