Ninety One UK 13F: Cuts ADP Stake by $103M
Ninety One UK trimmed its investment in Automatic Data Processing, Inc. during the period, according to a recent Form 13F filing with the SEC.
Reviewed by automated data checks against the source filing. How we make and check alerts
Ninety One UK sold 400,887 shares from its stake in Automatic Data Processing, Inc. ($ADP), a 14.68% decrease, according to a 13F filing with the SEC dated October 15, 2026. It reported 2,329,634 shares worth $601.19 million at the end of the quarter.
Since the filing, $ADP is up 1.1% to date (from the $285.65 close on Oct 15, 2026).
ADP
Automatic Data Processing, Inc.
Key Points
- Ninety One UK trimmed its position in Automatic Data Processing, Inc. by 400,887 shares to end with 2,329,634 shares.
- The stock recently traded around $288.22, sitting just below its 52-week high ahead of upcoming earnings.
- Other large institutional managers, such as Blackrock Inc. and Vanguard Capital Management LLC, also adjusted their stakes during the period.
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Ninety One UK reduced its investment in Automatic Data Processing, Inc. (ADP) NasdaqGS by cutting 400,887 shares from its portfolio, according to a Form 13F filing with the SEC on October 15, 2026. Because 13F filings look backward at the end of a reporting quarter, these numbers reflect past portfolio adjustments and may not show the fund's current holdings today.
Inside Ninety One UK's ADP Trade
The fund lowered its stake by 14.7% during the period, moving from 2,730,521 shares down to 2,329,634 shares. The remaining block of stock carried a reported value of $601,185,363 at the time of the filing. This adjustment is part of a broader string of portfolio updates from the firm, which also recently trimmed positions in other equities.
Other Institutional Activity in Automatic Data Processing, Inc.
Other major investors were busy adjusting their own positions in the payroll and human resources software provider. Blackrock Inc. grew its holdings by 656,744 shares, ending with 36,156,415 shares worth about $10,445,588,072. Vanguard Capital Management LLC trimmed its position slightly by 54,917 shares, leaving it with 26,095,828 shares valued at about $7,539,084,549. State Street Corporation grew its stake by 1,062,942 shares to hold 20,389,160 shares worth about $5,890,428,199. Invesco Ltd. added 902,653 shares to end with 13,562,578 shares valued at about $3,918,228,701. Charles Schwab Investment Management, Inc. lifted its holdings by 1,167,763 shares, finishing with 12,729,777 shares worth about $3,677,632,497.
Automatic Data Processing, Inc. Stock Up 0.9%
Shares of Automatic Data Processing recently traded around $288.22, placing the stock just under its 52-week high of $290.12. The company commands a market capitalization near $114.5 billion. The stock trades well above its 200-day moving average of $238.50.
Recent Earnings
The company generated $21,947,400,192 in trailing-twelve-month revenue alongside earnings of $10.94 per share. Its net profit margin stood at 20.1% for the period. The next quarterly financial update is scheduled for October 28, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
3 target cuts vs 1 raises.
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EPS & revenue
EPS beat estimates by 1.7%. Revenue beat estimates by 0.5%.
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Profit surprise
EBITDA met by 1 percent. Operating income met by 1 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 target raise, 3 target cuts.
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Earnings quality
Gross margin down 3.4 points. Operating margin up 0.7 points. Positive free cash flow.
Earnings Call Summary
ADP delivered solid first quarter results with 7 percent revenue growth and 7 percent adjusted earnings per share growth. Employer services bookings accelerated, with strong momentum in ADP Lyric HCM and Workforce Now Next-Gen capturing 80 percent of new mid-market sales. Pays per control rounded to zero percent as clients remained cautious about hiring. PEO revenue grew 7 percent, beating expectations, while the company made strategic progress with the Pequity compensation management acquisition and continued expansion of embedded payroll partnerships with Fiserv.
Guidance ADP reaffirmed its full year revenue growth of 5 to 6 percent and adjusted earnings per share growth of 8 to 10 percent. The company expects employer services revenue to grow 5 to 6 percent for the year, with flat pays per control. PEO revenue is expected to grow 5 to 7 percent, with worksite employee growth of 2 to 3 percent. Client funds interest revenue was raised by 10 million dollars to 1.30 to 1.32 billion dollars.
Clearly negative report. The company missed important expectations and likely triggers downward revisions.
Dividend
Automatic Data Processing provides shareholders an annual dividend rate of $6.80 per share, giving it a dividend yield of 2.38%. The payout ratio sits at 60.7% of earnings.
Insider Buying and Selling at Automatic Data Processing, Inc.
Company insiders also transacted shares in the weeks leading up to the filing. On September 2, 2026, officer Joseph Desilva sold 6,512 shares at an average price of $283.00 for a total value of $1,842,896. On the same day, officer Christopher D'Ambrosio sold 1,872 shares at $283.00 apiece, totaling $529,776. Chief Executive Officer Maria Black disposed of 29,810 shares on September 2, 2026, worth $8,373,873. Shortly after, on September 3, 2026, Joseph Desilva sold another 631 shares at $282.87 per share, realizing $178,491.
Analysts Set New Price Targets
Wall Street firms updated their views on the stock ahead of the filing cycle. On July 30, 2026, Citigroup maintained its Neutral rating while lifting its price target from $230.00 to $287.00. Morgan Stanley kept an Equal-Weight rating on July 30, 2026, raising its target from $240.00 to $286.00. Stifel maintained a Hold rating on July 30, 2026, moving its target from $260.00 to $285.00. Cantor Fitzgerald kept an Overweight rating on August 3, 2026, boosting its target from $295.00 to $310.00, and reiterated the Overweight rating with a $310.00 target on August 5, 2026. Across the broader market, analysts maintain a consensus hold rating with a mean price target of $286.40.
About Automatic Data Processing, Inc.
Automatic Data Processing, Inc. builds cloud-based human capital management systems for businesses around the globe. Headquartered in Roseland, New Jersey, the firm offers software and outsourcing services handling payroll, human resources, and benefits administration for employers of all sizes. Institutional shifts by large funds like Ninety One UK offer insight into how professional investors manage their exposure to major business software providers.
Bottom Line
Investors will look toward the company's upcoming earnings report on October 28, 2026, for fresh details on revenue and profit trends. Because 13F reports look backward, market participants should view these portfolio adjustments as a historical record rather than an indicator of current trading. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.
Related Filing Alerts
Source: Ninety One UK's 13F filing on $ADP (Oct 15, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Ninety One UK 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts