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

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 Down 2.5%

NASDAQ ADP opened at $266.06 on Tuesday. The stock has a market cap of $105.69 billion, a PE ratio of 24.32 and a beta of 0.81. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $310.08. The business has a 50 day moving average price of $245.82 and a two-hundred day moving average price of $225.35. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) 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 company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter last year, the firm posted $2.26 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Insider Activity at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of the company’s 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 owned 9,660 shares in the company, valued at $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Automatic Data Processing

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Horizon Investments LLC grew its stake in shares of Automatic Data Processing by 34.1% in the fourth quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock worth $6,725,000 after purchasing an additional 6,655 shares in the last quarter. Compass Capital Management Inc. raised its position in shares of Automatic Data Processing by 3.0% during the 4th quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock worth $52,400,000 after buying an additional 5,899 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Automatic Data Processing by 27.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 234,273 shares of the business services provider’s stock worth $60,262,000 after acquiring an additional 49,774 shares during the period. DNB Asset Management AS increased its stake in shares of Automatic Data Processing by 11.1% during the fourth quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock valued at $39,278,000 after acquiring an additional 15,287 shares during the period. Finally, Fulton Bank N.A. raised its holdings in Automatic Data Processing by 192.0% during the second quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock worth $1,605,000 after purchasing an additional 4,711 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADP has been the topic of several analyst reports. Robert W. Baird dropped their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Wells Fargo & Company upped their price objective on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. UBS Group raised their target price on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Argus cut their price target on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Finally, Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.