Insider trade: Automatic Data Processing (NASDAQ:ADP) Executive Vice President Brian L. Michaud sold 1,000 shares of the companys common stock on February 6, 2026, at a per-share price of $234.18, generating proceeds of $234,180. The filing shows the sale was carried out through a Rule 10b5-1 trading plan that Michaud put in place in September 2025. After the disposition, Michaud directly holds 15,310.3519 shares of ADP common stock.
Quarterly results: In parallel with the insider transaction, ADP disclosed fiscal second-quarter 2026 results that topped consensus figures. Reported earnings per share were $2.62, compared with the $2.57 analysts had forecast. Revenue for the quarter reached $5.4 billion, outpacing the anticipated $5.34 billion.
Analyst reaction: Despite the earnings and revenue beat, Stifel lowered its price target on ADP to $270 from $280 and retained a Hold rating. The firm said the revision followed conversations with ADP executives about the implications of artificial intelligence on labor markets and on ADPs business model.
Employment data context: ADPs National Employment Report for January showed the U.S. private sector added 22,000 jobs, highlighting a continued deceleration in hiring. The education and health services sector led gains with 74,000 new positions. Manufacturing shed 8,000 jobs, and professional and business services recorded the largest drop reported, with a decline of 57,000 jobs.
Taken together, the insider sale, the companies quarterly outperformance versus estimates, the analyst adjustment to the price target, and the employment report sketch a multifaceted snapshot of ADPs near-term operating environment and the labor market conditions it monitors closely through its data services.
Disclosure: The article does not include any claim beyond the facts presented in company filings, reported quarterly results, the analyst update from Stifel, and the ADP National Employment Report referenced above.