The insider selling is routine in both dollar amount and proportion relative to market cap. No actionable signal — monitor next quarterly earnings for any fundamental changes, but this cluster alone does not warrant a trading decision.
Price Chart
Executive Summary
A cluster of insider selling at ADP over the past week, led by CEO Maria Black who sold ~$8.1M in open-market transactions on September 2, alongside other executives. Total open-market sales of ~$12.3M represent about 0.01% of ADP's $112.6B market cap, which is trivial and routine for a company of this size. The selling is likely driven by pre-planned 10b5-1 programs or portfolio diversification rather than a bearish signal on the business.
Key Financial Metrics
Key Facts
- CEO Maria Black sold ~$8.1M in open-market shares on September 2, 2026 across multiple transactions
- Total open-market sales by all insiders in the cluster: ~$12.3M
- Total insider selling represents ~0.01% of ADP's $112.6B market cap
- CFO Peter Hadley and CMO Samantha Orihuela had tax-withholding transactions (non-cash, shares surrendered for taxes)
- ADP has a 67% win rate on prior reports at T+20, suggesting the model's reads on this ticker have been accurate
Financial Impact
Total open-market insider selling of ~$12.3M, or ~0.01% of market cap — immaterial
Risk Factors
- Insider selling could be misinterpreted as a bearish signal by retail traders
- CEO selling a large absolute dollar amount ($8.1M) may attract media attention despite being immaterial relative to her total holdings
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-ADP-1788588588254 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 4, 2026 28d ago | Insider Cluster | $277.62 $276.63 | ▼ −0.36% | ▲ +0.85% | $258.36 (−6.94%) |
Sep 4, 2026 28d ago | Insider Cluster | $277.62 $276.63 | ▼ −0.36% | ▲ +0.85% | $258.36 (−6.94%) |
Sep 3, 2026 29d ago | Insider Cluster | $283.53 $268.26 | ▼ −5.39% | ▼ −4.24% | $258.36 (−8.88%) |
Aug 24, 2026 5w ago | Insider Cluster | $283.01 $286.16 | ▲ +1.11% | ▲ +0.64% | $258.36 (−8.71%) |
Jul 29, 2026 9w ago | 8-K | $273.37 $269.90 | ▼ −1.27% | ▼ −6.80% | $258.36 (−5.49%) |
Jul 20, 2026 10w ago | Institutional Cluster | $246.22 $254.98 | ▲ +3.56% | ▲ +4.79% | $258.36 (+4.93%) |
Jun 21, 2026 14w ago | Institutional Cluster | $214.60 $223.55 | ▲ +4.17% | ▲ +6.24% | $258.36 (+20.39%) |
Mar 30, 2026 26w ago | Court Ruling | $205.41 $203.47 | ▼ −0.94% | ▼ −5.24% | $258.36 (+25.78%) |
Mar 10, 2026 29w ago | Court Ruling | $217.22 $209.63 | ▼ −3.49% | ▼ −2.59% | $258.36 (+18.94%) |
US Market Status
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