Automatic Data Processing, Inc. $ADP Shares Sold by GUARDCAP ASSET MANAGEMENT Ltd

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GUARDCAP ASSET MANAGEMENT Ltd has reduced its stake in Automatic Data Processing (NASDAQ:ADP) by 13.2%, selling over 99,000 shares, although ADP remains a significant holding for the firm. Despite a recent EPS beat and a new $6.0 billion share buyback authorization, ADP’s stock has faced downward pressure due to insider selling and analyst target cuts, leading to a 12-month low. The company also announced a quarterly dividend of $1.70 per share, yielding 3.0% annually.

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