Geneva Partners LLC Raises Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Geneva Partners LLC grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 146.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 10,472 shares of the business services provider’s stock after purchasing an additional 6,227 shares during the quarter. Automatic Data Processing comprises approximately 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. von Borstel & Associates Inc. acquired a new stake in Automatic Data Processing during the 1st quarter worth about $30,000. Main Street Group LTD grew its position 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 purchasing an additional 38 shares during the period. Cyrus J. Lawrence LLC grew its position in Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after purchasing an additional 67 shares during the period. Abound Wealth Management grew its position in Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after purchasing an additional 43 shares during the period. Finally, Banque de Luxembourg S.A. acquired a new stake in Automatic Data Processing during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.3%

ADP stock opened at $308.40 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $329.93. The stock has a market cap of $125.19 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 2.87 and a beta of 0.76. The business’s 50-day moving average is $312.50 and its 200 day moving average is $303.71.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the previous year, the firm posted $2.88 EPS. Automatic Data Processing’s revenue was up 5.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Insider Transactions at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president directly owned 7,364 shares in the company, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. TD Securities increased their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research report on Wednesday, May 21st. UBS Group cut their price target on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research report on Friday, June 13th. Stifel Nicolaus increased their price target on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Mizuho increased their price target on Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. Finally, Morgan Stanley raised their target price on Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $307.08.

Automatic Data Processing 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.