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

Geneva Partners LLC boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 146.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,472 shares of the business services provider's stock after purchasing an additional 6,227 shares during the period. Automatic Data Processing makes up about 1.6% of Geneva Partners LLC's portfolio, making the stock its 23rd biggest 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.

Several other large investors also recently bought and sold shares of ADP. Sentinus LLC grew its holdings in Automatic Data Processing by 2.3% during the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after acquiring an additional 35 shares during the period. Rehmann Capital Advisory Group grew its holdings in Automatic Data Processing by 1.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock worth $1,079,000 after acquiring an additional 36 shares during the period. Detalus Advisors LLC grew its holdings in Automatic Data Processing by 2.4% during the first quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider's stock worth $478,000 after acquiring an additional 37 shares during the period. Main Street Group LTD grew its holdings in Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after acquiring an additional 38 shares during the period. Finally, Howard Financial Services LTD. grew its holdings in Automatic Data Processing by 2.2% during the first quarter. Howard Financial Services LTD. now owns 1,735 shares of the business services provider's stock worth $530,000 after acquiring an additional 38 shares during the period. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

Shares of ADP stock traded up $1.51 during trading on Wednesday, reaching $308.41. The company had a trading volume of 1,359,599 shares, compared to its average volume of 1,714,779. The firm's 50 day simple moving average is $312.72 and its two-hundred day simple moving average is $303.73. 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, Inc. has a one year low of $231.27 and a one year high of $329.93. The company has a market capitalization of $125.19 billion, a PE ratio of 31.57, a PEG ratio of 2.81 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) 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. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same period last year, the business earned $2.88 EPS. The firm's revenue was up 5.7% compared to the same quarter last year. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 17th. Stifel Nicolaus lifted their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Mizuho lifted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Royal Bank Of Canada restated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. Finally, UBS Group reduced their price target on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a report on Friday, June 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $307.08.

Insider Buying and Selling at Automatic Data Processing

In related 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 transaction, the vice president directly owned 7,364 shares of the company's stock, valued at approximately $2,158,682.96. This trade represents a 6.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.21% of the company's stock.

Automatic Data Processing Company Profile

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.