Rep. Richard McCormick Sells Off 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 Performance

Shares of ADP traded up $7.49 on Tuesday, reaching $273.55. 316,697 shares of the company’s stock traded hands, compared to its average volume of 3,068,187. The stock’s 50 day simple moving average is $245.82 and its two-hundred day simple moving average is $225.35. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $310.08. The stock has a market cap of $108.67 billion, a PE ratio of 24.96 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping 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 analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the firm posted $2.26 EPS. Automatic Data Processing’s 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. On average, analysts forecast that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm 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 $1.70 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.5%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.16%.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction dated 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 in the company, valued at approximately $2,565,889.20. This trade represents a 19.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ADP has been the subject of several research reports. Argus cut their price target on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Guggenheim upped their price objective on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Morgan Stanley lifted their target price on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. UBS Group boosted their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Finally, Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average price target of $273.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Automatic Data Processing during the second quarter valued at about $8,097,229,000. Bank of America Corp DE bought a new stake in shares of Automatic Data Processing during the second quarter valued at approximately $1,231,175,000. Deutsche Bank AG bought a new position in Automatic Data Processing in the 2nd quarter valued at approximately $994,937,000. Northwestern Mutual Wealth Management Co. boosted its stake in Automatic Data Processing by 6,493.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock valued at $892,120,000 after purchasing an additional 3,415,576 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Automatic Data Processing in the second quarter worth $725,513,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

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.