Automatic Data Processing, Inc. $ADP Shares Sold by M&T Bank Corp

Key Points

• ADP beat quarterly expectations, reporting $3.37 EPS vs. $3.30 and $5.94B revenue (+7% YoY), set FY‑2026 EPS guidance of 11.010–11.110, and announced a $6.0 billion share buyback and a $1.70 quarterly dividend (3.2% yield).
• M&T Bank trimmed its stake by 2.4%, selling 7,561 shares and now holds 313,165 shares (≈$80.6M); overall institutional ownership stands at about 80.03% of ADP.
• Insider selling and mixed analyst views: insiders sold 1,809 shares (~$410,410) in the last 90 days, while analysts remain mixed (consensus rating "Hold" with a $254.40 average price target and several recent target revisions).

M&T Bank Corp cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 313,165 shares of the business services provider's stock after selling 7,561 shares during the period. M&T Bank Corp owned 0.08% of Automatic Data Processing worth $80,555,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Imprint Wealth LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $25,000. Cloud Capital Management LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $29,000. Board of the Pension Protection Fund acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at $31,000. Y.D. More Investments Ltd acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $32,000. Finally, High Point Wealth Management LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at $34,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP David Foskett sold 266 shares of Automatic Data Processing stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $237.00, for a total transaction of $63,042.00. Following the sale, the vice president directly owned 10,954 shares in the company, valued at $2,596,098. This trade represents a 2.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher D'ambrosio sold 543 shares of Automatic Data Processing stock in a transaction on Monday, March 16th. The stock was sold at an average price of $208.45, for a total transaction of $113,188.35. Following the sale, the vice president owned 8,912 shares in the company, valued at $1,857,706.40. This represents a 5.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,809 shares of company stock worth $410,410 in the last ninety days. 0.20% of the stock is owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $214.21 on Monday. The company's fifty day moving average price is $206.67 and its 200 day moving average price is $237.99. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $329.93. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $86.25 billion, a P/E ratio of 19.98 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, topping the consensus estimate of $3.30 by $0.07. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period last year, the business earned $3.06 EPS. Automatic Data Processing's revenue for the quarter was up 7.0% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 11.07 earnings per share for the current fiscal year.

Automatic Data Processing declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the business services provider to repurchase up to 5.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, June 12th. Automatic Data Processing's dividend payout ratio (DPR) is currently 63.43%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ADP. Jefferies Financial Group reduced their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a report on Thursday. TD Cowen raised their price objective on shares of Automatic Data Processing from $208.00 to $216.00 and gave the company a "hold" rating in a report on Thursday. Morgan Stanley reduced their price objective on shares of Automatic Data Processing from $311.00 to $274.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 28th. Cantor Fitzgerald reduced their price objective on shares of Automatic Data Processing from $306.00 to $244.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Finally, Wells Fargo & Company reduced their price objective on shares of Automatic Data Processing from $262.00 to $214.00 and set an "underweight" rating on the stock in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and a consensus price target of $254.40.

Key Stories Impacting Automatic Data Processing

Here are the key news stories impacting Automatic Data Processing this week:

• Positive Sentiment: ADP beat Q3 estimates and raised guidance — the company reported EPS above expectations and lifted its FY‑2026 adjusted EPS growth to 10%–11% while raising revenue growth to 6%–7%, supporting stronger near‑term fundamentals and subscription demand. ADP forecasts FY 2026 adjusted EPS growth
• Positive Sentiment: UBS raised its price target to $218 (neutral rating) — a modest upgrade that signals some analysts see limited near‑term downside after the beat and guidance lift. ADP Price Target Raised to $218 at UBS Group
• Positive Sentiment: TD Cowen issued a positive forecast — another analyst backing a constructive view on ADP’s outlook, which can support buying interest after the earnings/guidance update. TD Cowen Issues Positive Forecast
• Positive Sentiment: Mizuho cut its target but left a high $305 target (still large upside) — shows some firms trimmed overly ambitious targets while maintaining a bullish long‑run view. Mizuho adjusts ADP PT to $305
• Neutral Sentiment: Citigroup cut its target to $230 and kept a neutral rating — less bullish than before but still implies upside; this reflects mixed analyst sentiment after the quarter. ADP Given New $230.00 Price Target at Citigroup
• Neutral Sentiment: Stifel lowered its PT to $240 (still above the current price) — a downgrade in target level but not a sell signal; suggests tempered upside expectations. Stifel Nicolaus adjusts ADP PT to $240
• Neutral Sentiment: Robert W. Baird trimmed its target to $270 — still a material upside, but the cut contributes to mixed analyst signals. Baird adjusts ADP PT to $270
• Neutral Sentiment: Cantor Fitzgerald cut its PT to $244 but kept an overweight rating — indicates confidence in longer‑term upside despite trimming near‑term valuation. Cantor Fitzgerald adjusts ADP PT to $244
• Negative Sentiment: Jefferies cut its price target sharply to $190 — the only firm in this batch with a below‑current‑price target, which could weigh on risk‑sentiment or prompt cautious positioning. Jefferies adjusts ADP PT to $190

Automatic Data Processing Profile

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP's product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.

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