Rep. Richard McCormick Sells Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Rep. Richard McCormick sold $1,001–$15,000 of ADP shares on July 30 from his Growth Partners Roth IRA, alongside similarly sized sales in nine other companies.
• ADP reported quarterly earnings of $2.64 per share, beating estimates, while revenue rose 6.8% year over year to $5.47 billion. The company also announced a quarterly dividend of $1.70 per share, equivalent to a 2.6% yield.
• ADP shares opened at $266.06, while analysts maintain an overall “Hold” rating with an average price target of $273.50; institutional investors own about 80% of the stock.

Representative Richard McCormick (Republican-Georgia) recently sold shares of Automatic Data Processing, Inc. NASDAQ: ADP. In a filing disclosed on August 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in Automatic Data Processing stock on July 30th. The trade occurred in the Representative's "GROWTH PARTNERS ROTH IRA" account.

Representative Richard McCormick also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Medtronic NYSE: MDT on 7/30/2026.
• Sold $1,001 - $15,000 in shares of NextEra Energy NYSE: NEE on 7/30/2026.
• Sold $1,001 - $15,000 in shares of PepsiCo NASDAQ: PEP on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Abbott Laboratories NYSE: ABT on 7/30/2026.
• Sold $1,001 - $15,000 in shares of McDonald's NYSE: MCD on 7/30/2026.
• Sold $1,001 - $15,000 in shares of L3Harris Technologies NYSE: LHX on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Johnson & Johnson NYSE: JNJ on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Intercontinental Exchange NYSE: ICE on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Illinois Tool Works NYSE: ITW on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Home Depot NYSE: HD on 7/30/2026.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $266.06 on Tuesday. The business's 50 day simple moving average is $245.82 and its 200 day simple moving average is $225.35. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $310.08. The stock has a market capitalization of $105.69 billion, a PE ratio of 24.32 and a beta of 0.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the prior year, the firm posted $2.26 EPS. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing's payout ratio is currently 62.16%.

Institutional Investors Weigh In On Automatic Data Processing

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Automatic Data Processing during the 2nd quarter worth approximately $8,097,229,000. Bank of America Corp DE bought a new position in shares of Automatic Data Processing in the second quarter valued at approximately $1,231,175,000. Deutsche Bank AG purchased a new position in shares of Automatic Data Processing during the second quarter valued at approximately $994,937,000. Northwestern Mutual Wealth Management Co. grew its holdings in Automatic Data Processing by 6,493.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider's stock worth $892,120,000 after buying an additional 3,415,576 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Automatic Data Processing during the second quarter worth $725,513,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Insider Buying and Selling

In related news, VP David Kwon sold 2,414 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the completion of the sale, the vice president directly owned 9,660 shares of the company's stock, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ADP shares. Jefferies Financial Group decreased their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Citigroup boosted their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. Morgan Stanley boosted their target price on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. Argus cut their price target on shares of Automatic Data Processing from $300.00 to $240.00 and set a "buy" rating on the stock in a research report on Tuesday, May 5th. Finally, Wells Fargo & Company increased their price target on Automatic Data Processing from $248.00 to $283.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Automatic Data Processing currently has an average rating of "Hold" and an average price target of $273.50.

About Representative McCormick

Rich McCormick (Republican Party) is a member of the U.S. House, representing Georgia's 7th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. McCormick (Republican Party) is running for re-election to the U.S. House to represent Georgia's 7th Congressional District. He declared candidacy for the 2026 election. Rich McCormick lives in Suwanee, Georgia. McCormick served in the U.S. Marine Corps and the U.S. Navy. He earned an M.B.A. from National University and an M.D. from Morehouse School of Medicine. McCormick's career experience includes working as an emergency medicine physician with Gwinnett Medical Center and Northside Hospital, a Marine officer instructor with Georgia Tech and Morehouse College, and a pilot.

Automatic Data Processing Company 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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