Black Maria

ADP CEO Black Maria sold 23.6K shares for $7.0M on 2025-09-03, reducing holdings by 23.7% to 76.2K shares

Black Maria executed 20 separate sales totaling 23,605 shares for $7,041,744.09 on a single day, with a blended average price of $298.32 across a range of $295.91 to $299.98 per share. This represents a material reduction in her holdings at ADP—a decline from 99,766 shares to 76,161 shares, or 23.7% of her pre-transaction position. The stock is currently trading at $295.97, down 9.4% from its 52-week high of $326.81 and down 1.9% over the prior 30 days. At the same-ticker level, her most recent measurable prior sale at ADP (2024-09-04) saw the stock rise 10.0% over the subsequent 90 days, and her cross-ticker track record shows an average 90-day return of 2.5% after prior sells across all tickers, with a 42.86% well-timed rate. The concentrated timing of these 20 sales on a single trading day and the substantial reduction in her equity stake warrant attention to the execution context and any scheduled trading arrangements.

ADP CEO Black Maria sells 7,721 shares for $2,315,777.23 across 4 transactions on 2025-09-02

Black Maria, President & CEO of Automatic Data Processing, executed 4 separate sales totaling 7,721 shares for $2,315,777.23 on 2025-09-02, reducing holdings from 107,487 shares to 99,766 shares (a 7.2% reduction). The blended average sale price of $299.93 occurred when the stock was trading near its current level of $298.86, shortly before a further 1.1% decline over 30 days and 8.4% decline over 90 days from the transaction date. Against his cross-ticker track record of 20 prior sells, the timing pattern shows 0 of 0 prior sells were well-timed at the 90-day mark; however, this specific transaction's timing cannot yet be assessed. The company maintains solid fundamentals with revenue of $5,553,000,000.00, net income of $1,249,500,000.00, and annual revenue growth of 7.1%, though the stock trades at a P/E of 27.98 near the lower end of its 52-week range. The concentration of four distinct transactions on a single date, combined with subsequent price weakness, merits attention to whether this represents a material shift in CEO positioning.

Black Maria (CEO) sold 7,383 ADP shares at $276.00 for $2.0M on 2024-09-04; retains 69,962 shares

Black Maria executed a sale of 7,383 shares at $276.00 on 2024-09-04, reducing her holdings by 9.5% to 69,962 shares. The transaction occurred near the 52-week high ($275.91), at a price $6.44 above the current price of $269.56. Black Maria's cross-ticker track record shows a 90-day well-timed rate of 100.00% across 6 prior sells (average 90d return of -9.4%), indicating a historical pattern of selling ahead of declines; however, at ADP specifically, prior measurable outcomes are limited—2 of 2 historical 90-day outcomes at this ticker showed negative returns (-8.4% and -9.9% in 2023), consistent with the broader pattern. The stock has gained 4.1% over 30 days and 6.8% over 90 days, which may contextualize the timing of this discretionary sale relative to recent strength.

ADP CEO Black Maria sells 19,147 shares for $5,253,553.86; 3 of 3 prior ADP sales well-timed at 90 days.

Black Maria executed 2 separate sales totaling 19,147 shares for $5,253,553.86 on 2024-09-03, reducing holdings from 96,492 to 77,345 shares (a -19.8% reduction in position size). At the blended average price of $274.38, the sales occurred near the 52-week high of $275.91 (within 0.2%). Notably, at the same ticker ADP, Black Maria's prior 3 measurable sales all exhibited negative 90-day returns: -8.4%, -9.9%, and -9.8%, indicating a pattern of well-timed exits before declines. Her cross-ticker track record across 5 prior sells shows a 100.00% well-timed rate at the 90-day mark and an average 90-day return of -9.4%, consistent with consistent timing discipline. The combination of significant share reduction, execution near 52-week highs, and a documented pattern of ahead-of-decline exits warrants attention to whether current fundamentals (P/E of 27.77, recent +6.6% annual revenue growth) support sustained valuation at these levels.

ADP CEO Black Maria sold 15,440 shares ($4.0M) at $260.38; holds 53,750 post-sale; 3 prior ADP sales all well-timed.

Black Maria sold 15,440 shares of ADP at $260.38 for $4,020,267.20, reducing holdings by 22.3% to 53,750 shares. The transaction occurs as the stock trades at its 52-week high of $263.52, and within a context of strong recent momentum (+11.2% over 30 days, +8.9% over 90 days). However, what distinguishes this sale is the insider's demonstrated pattern: across his three prior trades at ADP, all were well-timed in the 90-day window, with negative post-sale returns of -4.2%, -5.7%, and -5.6% respectively. His cross-ticker track record shows a 100% well-timed rate on sells (3 prior sales averaging -5.2% 30-day return, -9.4% 90-day return). A material reduction in stake by a chief executive at near-peak valuations, paired with a flawless track record of selling before subsequent declines, represents a meaningful signal to long-term holders.