Automatic Data Processing, Inc. stock price

Automatic Data Processing, Inc. latest news:


  • 09/22/2017 16:03:00

    UPDATE 1-ADP rejects Ackman's request to use universal proxy card

    Sept 22 (Reuters) - Automatic Data Processing Inc rejected billionaire hedge fund manager William Ackman's request to use a universal proxy card during the human resources outsourcing company's annual shareholder meeting.

  • 09/20/2017 16:16:59

    Ackman targets retail investors in ADP proxy contest

    BOSTON (Reuters) - Billionaire hedge fund manager William Ackman, whose firm owns an 8.3 percent stake in Automatic Data Processing Inc , is turning up the heat in his proxy war for the human...

  • 09/20/2017 11:46:25

    UPDATE 1-Ackman asks ADP's retail investors to back him in new video

    BOSTON, Sept 20 (Reuters) - Billionaire hedge fund manager William Ackman on Wednesday spoke to Main Street stockholders, asking this less affluent but hugely influential group to help him win a proxy contest at human resources outsourcing company Automatic Data Processing Inc.

  • 09/20/2017 11:04:08

    Bill Ackman believes ADP is ignoring competitive threats

    Bill Ackman, founder of Pershing Square Capital Management, on Wednesday warned that Automatic Data Processing Inc. is at risk of becoming like IBM Corp. and again pressured the payrolls services company to work with him to boost shareholder value. "I'm not saying ADP is IBM today, but it is at risk of becoming IBM if they don't take seriously the competitive threats they face and if they don't run their businesses as efficiently as they can," Ackman said during an interview on CNBC. IBM, once an undisputable technology leader, has continued to see its revenue dwindle in recent year. The hedge-fund manager also criticized ADP for "not hitting on all cylinders" and growing as it had in the past. Ackman's comments follow the disclosure of a letter in which Pershing took its case to restructure ADP directly to its shareholders. Pershing has invested $2.3 billion in ADP and has proposed three nominees to the board. Shares of ADP slid 0.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/21/2017 14:48:05

    ADP rejects new board candidates, Ackman fires back

    Aug 21 (Reuters) - Automatic Data Processing Inc on Monday rejected billionaire investor William Ackman's three proposed board candidates, sparking more criticism from the hedge fund manager who is trying to shake up the human resources outsourcing firm.

  • 08/17/2017 13:47:10

    UPDATE 3-Ackman's Pershing Square says ADP needs to streamline, modernize

    BOSTON/NEW YORK, Aug 17 (Reuters) - Billionaire activist investor William Ackman on Thursday said Automatic Data Processing Inc's stock price could double in the next five years if the human resources outsourcing company cuts costs, streamlines its business and invests in technology upgrades.

  • 08/17/2017 12:33:29

    Ackman's Pershing Square says ADP needs to streamline, modernize

    BOSTON/NEW YORK (Reuters) - Billionaire activist investor William Ackman on Thursday said Automatic Data Processing Inc's stock price could double in the next five years if the human resources outsourcing company cuts costs, streamlines its business and invests in technology upgrades.

  • 08/17/2017 12:24:44

    ADP 'strongly disagrees' with Bill Ackman as war of words continues

    The war of words between Automatic Data Processing Inc. and activist hedge fund manager Bill Ackman continued Thursday, as ADP weighed in on a presentation made by Ackman earlier in the day. The company said it "strongly disagrees" with Ackman's assertions, which it said show a lack of understanding of the company and its strategy. Ackman said the value of ADP's stock could more than double by 2021 "with "no changes in the credit rating, capital structure, dividend policy, or clients funds investment strategy." Pershing said ADP's "buy" instead of "build" strategy has led to weak product offerings, most notably in enterprise, and inefficient legacy back-end infrastructure. "ADP's focus on 'hitting the numbers' has led to value-destructive decisions with negative long-term consequences," Pershing wrote in the presentation. Ackman is seeking five board seats and is urging a change of CEO. "ADP is not resting on its laurels. Our board and management team are thoughtfully transforming our organization and culture to compete effectively and drive global growth in the evolving Human Capital Management market," the company said. ADP shares fell 5%, but are up just 3.6% in 2017, while the S&P 500 has gained 9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/17/2017 08:01:58

    ADP's stock could more than double in less than 4 years, Ackman's Pershing Square says

    Shares of Automatic Data Processing Inc. could more than double in less than four years, if the payroll services company fulfill's its potential, according to hedge fund Pershing Square Capital Management, which is run by billionaire activist investor Bill Ackman. In a presentation to investors, Pershing said the value of ADP's stock, which was down 1.4% at $109.54 in morning trade, can rise to $221 to $255 a share by June 21, with "not changes in the credit rating, capital structure, dividend policy, or clients funds investment strategy." Pershing said ADP's "buy" instead of "build" strategy has led to weak product offerings, most notably in enterprise, and inefficient legacy back-end infrastructure. "ADP's focus on 'hitting the numbers' has led to value-destructive decisions with negative long-term consequences," Pershing wrote in the presentation. ADP diclosed earlier this month that Pershing, which owns 36.8 million ADP shares, or an 8.3% stake, was seeking to take five board seats and change the CEO. In an interview on CNBC last week, ADP CEO Carlos Rodriguez called Ackman "a spoiled brat." stock has gained 22% over the past 12 months, while the S&P 500 has rallied 13%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/14/2017 11:07:44

    Pershing Square says ADP CEO misled board on talks with hedge fund

    Activist investor Pershing Square Capital Management LP said on Monday the chief executive of Automatic Data Processing Inc (ADP) had "unfairly characterized" their interactions in an effort to make the hedge fund's requests "appear unreasonable". ADP had earlier this month said Ackman wanted effective control of the company through five board seats and a CEO change.

  • 08/10/2017 09:39:02

    ADP CEO slams Ackman's research and 'spoiled brat' antics

    NEW YORK (Reuters) - The CEO of Automatic Data Processing Inc slammed investor William Ackman on Thursday, likening the hedge fund manager to a "spoiled brat" and skewering the billionaire's research efforts into the payroll processor.

  • 08/07/2017 16:10:12

    Ackman's Pershing Square nominates three ADP board directors

    (Reuters) - Pershing Square Capital Management LP proposed three nominees on Monday, including its Chief Executive Officer William Ackman, to serve on the board of Automatic Data Processing Inc, setting the stage for a proxy contest with the human resources outsourcing company.

  • 08/07/2017 16:09:24

    UPDATE 2-Ackman's Pershing Square nominates three ADP board directors

    Aug 7 (Reuters) - Pershing Square Capital Management LP proposed three nominees on Monday, including its Chief Executive Officer William Ackman, to serve on the board of Automatic Data Processing Inc, setting the stage for a proxy contest with the human resources outsourcing company.

  • 08/07/2017 15:31:31

    UPDATE 1-Ackman's Pershing Square nominates three ADP board directors

    Aug 7 (Reuters) - Pershing Square Capital Management LP proposed three nominees on Monday, including its CEO William Ackman, to serve on the board of Automatic Data Processing Inc , setting the stage for a proxy contest with the human resources outsourcing company.

  • 08/07/2017 14:16:12

    Exclusive: Ackman's Pershing Square to nominate three ADP board directors - sources

    (Reuters) - Pershing Square Capital Management LP plans to nominate three directors, including its CEO William Ackman, to sit on the board of human resources outsourcing company Automatic Data Processing Inc, a person familiar with the matter said on Monday.

  • 08/04/2017 15:22:08

    Activist Ackman looks for board seats, better returns at payroll firm ADP

    - Billionaire investor William Ackman on Friday said his hedge fund had taken an 8 percent stake in Automatic Data Processing Inc (ADP) and plans to ask for board seats so he can push the U.S. human resources outsourcing company to cut costs and improve its returns.

  • 08/04/2017 06:12:24

    ADP says Ackman's Pershing Square seeking control of company

    Automatic Data Processing Inc(ADP) said hedge fund Pershing Square Capital Management is seeking effective control of the HR services provider by nominating five directors to its board. The hedge fund, controlled by billionaire investor William Ackman, has also urged the company to replace its Chief Executive Carlos Rodriguez.

  • 08/04/2017 05:41:44

    ADP's stock surges after activist Bill Ackman seeks to take control

    Shares of Automatic Data Processing Inc. rose 2.9% in premarket trade Friday, after the business consulting company disclosed that activist investor William Ackman's Pershing Square Capital Management is seeking to take control. ADP said Pershing, which owns 8% of the company's shares outstanding, is seeking to extend the deadline for nomination directors by up to 45 days, as Ackman would like to take five board seats. Ackman is also seeking a change of the chief executive officer. "The Board has unanimously determined that it is not in the best interests of ADP or its other shareholders to accede to Pershing Square's last-minute request for an extension," the company said in a statement. ADP said in the six years that Carlos Rodriquez has been CEO, ADP's total shareholder return (TSR) has been 202%, while the S&P 500's TSR has been 128% and Pershing's TSR has been 29%. Over the past year, ADP's stock has rallied 26.4% while the S&P 500 has gained 14%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 07/27/2017 11:02:58

    ADP stock jumps 10% in midday trade on reports of Ackman stake

    Shares of Automatic Data Processing Inc. jumped more than 10% in Thursday afternoon trade following a Bloomberg News report that Bill Ackman's Pershing Square Capital Management had taken a stake in payroll company ADP . Bloomberg cited people familiar with the matter, indicating that Ackman had recently bought shares in ADP and that he may increase his position. The report didn't specify the size of the activist investor's position. ADP's shares have climbed 13.1% so far this year, compared with a 10.1% year-to-date return for the Dow Jones Industrial Average, a 10.6% rise for the S&P 500 index thus far in 2017, and a 20% surge for the Nasdaq Composite Index over the same period. Ackman has been notably linked to recent bullish bets on Valeant Pharmaceuticals International Inc. , which he exited in March after racking up a $4 billion loss on his investment. He is also notoriously wagering that nutritional-supplement company Herbalife Ltd.'s shares will fall to zero. However, that company's stock is up 40% so far this year.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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