AUTOMATIC DATA PROCESSING IN ADP
COM · Common Stock · CUSIP 053015103 · ISIN US0530151036
American human resources management software company
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($630.5m this quarter). Holder counts are more reliable. Shares outstanding: 402.6m as of 2026-01-26, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $257.27. Options: 28 managers hold calls ($406.5m notional), 35 hold puts ($244.0m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 1,969 |
| Q4 2022 | 2,057 |
| Q1 2023 | 1,970 |
| Q2 2023 | 1,985 |
| Q3 2023 | 2,027 |
| Q4 2023 | 2,125 |
| Q1 2024 | 2,163 |
| Q2 2024 | 2,170 |
| Q3 2024 | 2,236 |
| Q4 2024 | 2,418 |
| Q1 2025 | 2,464 |
| Q2 2025 | 2,469 |
| Q3 2025 | 2,394 |
| Q4 2025 | 2,406 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 926 | 926 |
| Q2 2024 | 936 | 900 |
| Q3 2024 | 941 | 968 |
| Q4 2024 | 909 | 966 |
| Q1 2025 | 1,001 | 1,087 |
| Q2 2025 | 1,007 | 1,106 |
| Q3 2025 | 936 | 1,125 |
| Q4 2025 | 877 | 1,211 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $541.0m | $641.2m | 1.19 |
| Q2 2025 | $626.1m | $473.7m | 0.76 |
| Q3 2025 | $504.0m | $415.1m | 0.82 |
| Q4 2025 | $406.5m | $244.0m | 0.60 |
Biggest buyers
| Invesco Ltd. | Added | +8.2m |
| HSBC HOLDINGS PLC | Added | +1.2m |
| Clearbridge Investments, LLC | Added | +964.4k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | Added | +600.8k |
| MILLENNIUM MANAGEMENT LLC | Added | +564.0k |
| CITADEL ADVISORS LLC | Added | +561.8k |
| WELLINGTON MANAGEMENT GROUP LLP | Added | +544.2k |
| JANE STREET GROUP, LLC | Added | +507.6k |
| Corient Private Wealth LP | Added | +440.1k |
| SG Americas Securities, LLC | Added | +384.2k |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -3.9m |
| Ninety One UK Ltd | Reduced | -2.4m |
| MORGAN STANLEY | Reduced | -1.7m |
| MACKENZIE FINANCIAL CORP | Reduced | -879.2k |
| JANUS HENDERSON GROUP PLC | Reduced | -844.7k |
| Assenagon Asset Management S.A. | Reduced | -616.4k |
| ALLIANCEBERNSTEIN L.P. | Reduced | -608.9k |
| AMERICAN CENTURY COMPANIES INC | Reduced | -474.7k |
| California Public Employees Retirement System | Reduced | -465.2k |
| AMERIPRISE FINANCIAL INC | Reduced | -376.7k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $99.7m387.7k shares |
| CITADEL ADVISORS LLC | Reduced | $72.5m282.0k shares |
| ROYAL BANK OF CANADA | New | $51.8m201.4k shares |
| JANE STREET GROUP, LLC | Added | $33.2m129.2k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $27.4m106.7k shares |
| IMC-Chicago, LLC | Reduced | $24.7m95.9k shares |
| UBS Group AG | Added | $19.0m74.0k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $11.5m44.6k shares |
| Squarepoint Ops LLC | Added | $8.7m33.9k shares |
| Walleye Capital LLC | Added | $7.6m29.4k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $58.7m228.2k shares |
| CITADEL ADVISORS LLC | Added | $48.6m189.0k shares |
| IMC-Chicago, LLC | Added | $17.5m68.1k shares |
| UBS Group AG | Added | $15.0m58.5k shares |
| JANE STREET GROUP, LLC | Added | $14.8m57.5k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $9.2m35.9k shares |
| JPMORGAN CHASE & CO | New | $7.7m29.9k shares |
| Walleye Capital LLC | Added | $7.1m27.7k shares |
| Walleye Trading LLC | Reduced | $6.3m24.3k shares |
| Qube Research & Technologies Ltd | Added | $5.8m22.7k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.5% |
| STATE STREET CORP 13G · institution new · filed 2026-08-07 | 5.1% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q4 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2024 | 0 | — | 8 | $13.2m | $13.2m |
| Q2 2024 | 0 | — | 1 | $91.8k | $91.8k |
| Q3 2024 | 0 | — | 9 | $92.6m | $92.4m |
| Q4 2024 | 0 | — | 1 | $11.7m | $11.7m |
| Q1 2025 | 0 | — | 11 | $21.9m | $21.9m |
| Q2 2025 | 0 | — | 3 | $1.2m | $1.2m |
| Q3 2025 | 0 | — | 8 | $43.7m | $43.7m |
| Q4 2025 | 0 | — | 0 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.16% of their portfolio | 41.6m $10.7bn | Reduced -109.7k |
| BlackRock, Inc. 0.16% of their portfolio | 36.5m $9.4bn | Added +361.5k |
| STATE STREET CORP 0.16% of their portfolio | 18.9m $4.9bn | Added +133.0k |
| Invesco Ltd. 0.32% of their portfolio | 13.0m $3.4bn | Added +8.2m |
| GEODE CAPITAL MANAGEMENT, LLC 0.18% of their portfolio | 11.6m $3.0bn | Added +136.9k |
| MORGAN STANLEY 0.16% of their portfolio | 10.3m $2.7bn | Reduced -1.7m |
| Capital Research Global Investors 0.40% of their portfolio | 8.4m $2.2bn | Added +372.4k |
| WELLINGTON MANAGEMENT GROUP LLP 0.33% of their portfolio | 7.4m $1.9bn | Added +544.2k |
| WELLS FARGO & COMPANY/MN 0.36% of their portfolio | 7.1m $1.8bn | Reduced -78.9k |
| Bank of New York Mellon Corp 0.29% of their portfolio | 6.4m $1.6bn | Reduced -227.7k |
| NORTHERN TRUST CORP 0.20% of their portfolio | 6.0m $1.5bn | Reduced -110.0k |
| ALLIANCEBERNSTEIN L.P. 0.49% of their portfolio | 6.0m $1.5bn | Reduced -608.9k |
| BANK OF AMERICA CORP /DE/ 0.11% of their portfolio | 5.9m $1.5bn | Added +32.9k |
| GOLDMAN SACHS GROUP INC 0.16% of their portfolio | 4.3m $1.1bn | Added +254.7k |
| Fundsmith LLP 6.28% of their portfolio | 4.2m $1.1bn | Reduced -133.6k |
| AMERIPRISE FINANCIAL INC 0.23% of their portfolio | 3.9m $1.0bn | Reduced -376.7k |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.74% of their portfolio | 3.7m $940.8m | Unchanged |
| DEUTSCHE BANK AG\ 0.30% of their portfolio | 3.5m $908.7m | Added +299.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.18% of their portfolio | 3.4m $871.1m | Added +43.7k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.50% of their portfolio | 2.9m $740.9m | Reduced -344.0k |
| NORGES BANK 0.08% of their portfolio | 2.8m $721.7m | Not comparable |
| Legal & General Group Plc 0.15% of their portfolio | 2.7m $688.2m | Reduced -207.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.10% of their portfolio | 2.4m $621.2m | Added +33.7k |
| DIMENSIONAL FUND ADVISORS LP 0.13% of their portfolio | 2.4m $618.2m | Reduced -5.6k |
| Ninety One UK Ltd 1.31% of their portfolio | 2.4m $610.9m | Reduced -2.4m |
| Amundi 0.17% of their portfolio | 2.4m $610.9m | Added +201.1k |
| UBS Group AG 0.12% of their portfolio | 2.4m $610.2m | Reduced -247.1k |
| ROYAL BANK OF CANADA 0.10% of their portfolio | 2.3m $595.1m | Added +139.3k |
| FIRST TRUST ADVISORS LP 0.42% of their portfolio | 2.2m $578.4m | Added +140.4k |
| BARCLAYS PLC 0.23% of their portfolio | 2.2m $573.6m | Reduced -145.2k |
| HSBC HOLDINGS PLC 0.16% of their portfolio | 2.2m $571.6m | Added +1.2m |
| JPMORGAN CHASE & CO 0.03% of their portfolio | 1.9m $500.5m | Reduced -3.9m |
| STIFEL FINANCIAL CORP 0.41% of their portfolio | 1.8m $461.2m | Added +2.4k |
| Clearbridge Investments, LLC 0.35% of their portfolio | 1.7m $434.2m | Added +964.4k |
| Nuveen, LLC 0.11% of their portfolio | 1.7m $426.8m | Reduced -57.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.04% of their portfolio | 1.4m $362.1m | Reduced -47.5k |
| ENVESTNET ASSET MANAGEMENT INC 0.10% of their portfolio | 1.4m $353.9m | Reduced -141.4k |
| Fayez Sarofim & Co 0.85% of their portfolio | 1.4m $352.9m | Added +19.2k |
| PNC Financial Services Group, Inc. 0.19% of their portfolio | 1.4m $351.8m | Reduced -31.2k |
| FUNDSMITH INVESTMENT SERVICES LTD. 6.30% of their portfolio | 1.3m $344.3m | Reduced -106.5k |
| ProShare Advisors LLC 0.58% of their portfolio | 1.3m $326.2m | Added +208.5k |
| California Public Employees Retirement System 0.18% of their portfolio | 1.2m $310.4m | Reduced -465.2k |
| RAYMOND JAMES FINANCIAL INC 0.10% of their portfolio | 1.2m $307.1m | Added +24.9k |
| NORDEA INVESTMENT MANAGEMENT AB 0.26% of their portfolio | 1.2m $303.9m | Reduced -9.9k |
| CIBC Private Wealth Group LLC 0.50% of their portfolio | 1.2m $296.0m | Reduced -39.9k |
| FMR LLC 0.02% of their portfolio | 1.1m $295.8m | Reduced -144.5k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.33% of their portfolio | 1.1m $289.6m | Added +600.8k |
| Swiss National Bank 0.17% of their portfolio | 1.1m $285.5m | Reduced -60.1k |
| BLS Capital Fondsmaeglerselskab A/S 9.68% of their portfolio | 1.1m $285.5m | Reduced -2.5k |
| CITADEL ADVISORS LLC 0.19% of their portfolio | 1.1m $281.9m | Added +561.8k |
| Sumitomo Mitsui Trust Group, Inc. 0.15% of their portfolio | 1.0m $258.9m | Reduced -25.9k |
| National Pension Service 0.17% of their portfolio | 911.3k $234.4m | Added +45.0k |
| AVIVA PLC 0.39% of their portfolio | 908.9k $233.8m | Reduced -790 |
| Bahl & Gaynor LLC 1.15% of their portfolio | 880.6k $226.5m | Reduced -24.5k |
| Corient Private Wealth LP 0.14% of their portfolio | 839.6k $215.5m | Added +440.1k |
| BNP PARIBAS FINANCIAL MARKETS 0.14% of their portfolio | 834.9k $214.8m | Added +378.0k |
| Bank Julius Baer & Co. Ltd, Zurich 0.58% of their portfolio | 810.0k $208.7m | Added +3.1k |
| BANK OF MONTREAL /CAN/ 0.08% of their portfolio | 798.1k $205.3m | Reduced -28.0k |
| MILLENNIUM MANAGEMENT LLC 0.15% of their portfolio | 797.9k $205.2m | Added +564.0k |
| RHUMBLINE ADVISERS 0.16% of their portfolio | 786.4k $202.3m | Reduced -34.2k |
| Local Pensions Partnership Investment Ltd 3.27% of their portfolio | 721.3k $185.6m | Unchanged |
| TD Asset Management Inc 0.15% of their portfolio | 719.9k $185.2m | Reduced -21.9k |
| Navera Investment Management Ltd. 3.86% of their portfolio | 711.5k $183.0m | Reduced -12.3k |
| BROWN BROTHERS HARRIMAN & CO 1.00% of their portfolio | 710.1k $182.7m | Reduced -37.3k |
| CAPITAL COUNSEL LLC/NY 6.84% of their portfolio | 696.5k $179.2m | Added +39.0k |
| LPL Financial LLC 0.05% of their portfolio | 674.3k $173.5m | Added +27.0k |
| VICTORY CAPITAL MANAGEMENT INC 0.10% of their portfolio | 662.7k $170.5m | Reduced -32.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.17% of their portfolio | 648.8k $166.9m | Reduced -33.7k |
| JENSEN INVESTMENT MANAGEMENT INC 2.56% of their portfolio | 633.8k $163.0m | Reduced -290.7k |
| LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA 1.44% of their portfolio | 622.8k $158.5m | Reduced -7.8k |
| MACKENZIE FINANCIAL CORP 0.19% of their portfolio | 616.8k $159.8m | Reduced -879.2k |
| Russell Investments Group, Ltd. 0.17% of their portfolio | 611.7k $157.5m | Added +63.0k |
| Pictet Asset Management Holding SA 0.15% of their portfolio | 588.8k $151.5m | Added +125.5k |
| Robeco Institutional Asset Management B.V. 0.22% of their portfolio | 587.8k $151.2m | Reduced -120.0k |
| NATIONAL BANK OF CANADA /FI/ 0.15% of their portfolio | 580.5k $149.3m | Added +178.1k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.10% of their portfolio | 565.3k $145.4m | Added +19.9k |
| GUARDCAP ASSET MANAGEMENT Ltd 3.83% of their portfolio | 556.9k $143.3m | Reduced -99.9k |
| CITIGROUP INC 0.10% of their portfolio | 556.4k $143.1m | Reduced -210.3k |
| Williams Jones Wealth Management, LLC. 1.59% of their portfolio | 548.7k $141.1m | Reduced -16.8k |
| PFA Pension, Forsikringsaktieselskab 0.40% of their portfolio | 538.0k $139.6m | First filing |
| US BANCORP \DE\ 0.16% of their portfolio | 531.7k $136.8m | Reduced -12.6k |
| Life Cycle Investment Partners Ltd 0.96% of their portfolio | 531.5k $136.7m | First filing |
| JANE STREET GROUP, LLC 0.16% of their portfolio | 518.2k $133.3m | Added +507.6k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.22% of their portfolio | 515.3k $132.8m | Reduced -1.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.07% of their portfolio | 498.8k $128.3m | Added +11.4k |
| Baird Financial Group, Inc. 0.20% of their portfolio | 490.9k $126.3m | Added +1.1k |
| DekaBank Deutsche Girozentrale 0.22% of their portfolio | 482.2k $128.9m | Unchanged |
| NEW YORK STATE COMMON RETIREMENT FUND 0.16% of their portfolio | 463.4k $119.2m | Reduced -34.6k |
| SG Americas Securities, LLC 0.16% of their portfolio | 459.1k $118.1m | Added +384.2k |
| FRANKLIN RESOURCES INC 0.03% of their portfolio | 454.3k $116.9m | Reduced -213.5k |
| Allianz Asset Management GmbH 0.13% of their portfolio | 430.6k $110.8m | Reduced -188.7k |
| Boston Trust Walden Corp 0.81% of their portfolio | 418.2k $107.6m | Reduced -52.6k |
| Alyeska Investment Group, L.P. 0.28% of their portfolio | 383.5k $98.7m | New |
| Epoch Investment Partners, Inc. 0.55% of their portfolio | 379.6k $97.6m | Reduced -17.8k |
| AQR CAPITAL MANAGEMENT LLC 0.05% of their portfolio | 378.8k $97.4m | Reduced -120.0k |
| BANK OF NOVA SCOTIA 0.14% of their portfolio | 378.4k $97.3m | Added +48.7k |
| AMERICAN CENTURY COMPANIES INC 0.05% of their portfolio | 378.2k $97.3m | Reduced -474.7k |
| D.A. DAVIDSON & CO. 0.60% of their portfolio | 377.9k $97.2m | Added +13.6k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.34% of their portfolio | 376.5k $96.8m | Added +151.7k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.07% of their portfolio | 374.3k $96.3m | Added +8.6k |