Victory Capital Management Reduces Stake in Automatic Data Processing

Institutional investor lowers position in payroll and HR services provider

Published on Mar. 4, 2026

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Victory Capital Management Inc. lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.7% in the 3rd quarter, according to the company's recent 13F filing with the Securities & Exchange Commission. The fund owned 694,891 shares of the business services provider's stock after selling 4,708 shares during the period.

Why it matters

As a major institutional investor, Victory Capital Management's moves can provide insight into market sentiment around Automatic Data Processing. The reduction in stake, though modest, could signal broader concerns about the company's outlook or valuation among some investors.

The details

Victory Capital Management sold 4,708 shares of Automatic Data Processing stock in the third quarter, lowering its total position to 694,891 shares. The firm owned 0.17% of Automatic Data Processing at the end of the quarter, worth approximately $203.95 million.

  • Victory Capital Management filed its 13F report for the 3rd quarter of 2026.

The players

Victory Capital Management Inc.

An investment management firm that oversees over $157 billion in client assets.

Automatic Data Processing, Inc.

A leading provider of cloud-based human capital management and payroll solutions, headquartered in Roseland, New Jersey.

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The takeaway

Victory Capital Management's modest reduction in its Automatic Data Processing stake could signal some investor caution around the payroll and HR services provider, though the overall position remains substantial. The move provides a data point on institutional sentiment that the market will likely monitor going forward.