Automatic Data Processing, Inc. ADP is currently benefiting from a strong business model, transformation initiatives and acquisitions. The company’s shares have gained 36.8% over the past year, outperforming the 33.1% growth of the industry it belongs to.Automatic Data Processing, Inc. Price Automatic Data Processing, Inc. price | Automatic Data Processing, Inc. QuoteThe company recently reported first-quarter fiscal 2022 adjusted earnings per share of $1.65 that beat the Zacks Consensus Estimate by 10.7% and grew 17% year over year. Total revenues of $3.83 billion beat the consensus mark by 1.9% and improved 10% year over year.How is ADP Doing?ADP has a strong business model, high recurring revenues, good margins, robust client retention and low capital expenditure.ADP has been able to accelerate DataCloud penetration, and increase investment in inside sales, mid-market migrations and service-alignment initiatives through its ongoing transformation initiatives. Through these initiatives, the company continues to innovate, improve operations, expand margins and enhance innovation abilities.Strategic acquisitions like Celergo, WorkMarket, Global Cash Card and The Marcus Buckingham Company have strengthened ADP’s customer base and are helping it expand operations in international markets. The company continues to pursue acquisitions that strategically fit its overall business mix and are easy to integrate over the long term.ADP's total debt to total capital ratio of 0.36 at the end of the first-quarter fiscal 2022 was slightly higher than the previous quarter's 0.35. An increasing debt-to-capitalization ratio indicates that the proportion of debt to finance the company’s assets is on the rise and so is the risk of insolvency. Further, cash and cash equivalent balance of $1.60 billion at the end of the quarter was below the long-term debt level of $2.98 billion underscoring that the company doesn’t have enough cash to meet this debt burden. The company has no short-term debt to clear off.Zacks Rank and Stocks to ConsiderADP currently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Some better-ranked stocks in the broader Business Services sector are Avis Budget CAR, sporting a Zacks Rank #1, and Charles River Associates CRAI and Alliance Data Systems ADS, each carrying a Zacks Rank #2 (Buy).Avis Budget has an expected earnings growth rate of 398.1% for the current year. The company has a trailing four-quarter earnings surprise of 76.9%, on average.Avis Budget’s shares have surged 683.2% in the past year. The company has a long-term earnings growth of 27.5%.Charles River Associates has an expected earnings growth rate of 61.2% for the current year. The company has a trailing four-quarter earnings surprise of 51%, on average.Charles River’s shares have surged 128.9% in the past year. The company has a long-term earnings growth of 15.5%.Alliance Data has an expected earnings growth rate of 93.6% for the current year. The company has a trailing four-quarter earnings surprise of 52.9%, on average.Alliance Data’s shares have surged 15.3% in the past year. The company has a long-term earnings growth of 13.4%. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Automatic Data Processing, Inc. (ADP): Free Stock Analysis Report Charles River Associates (CRAI): Free Stock Analysis Report Avis Budget Group, Inc. (CAR): Free Stock Analysis Report Alliance Data Systems Corporation (ADS): Free Stock Analysis Report To read this article on Zacks.com click here.