|Bid||23.01 x 100|
|Ask||106.79 x 200|
|Day's Range||106.71 - 107.37|
|52 Week Range||85.48 - 121.77|
|PE Ratio (TTM)||27.74|
|Dividend & Yield||2.28 (2.12%)|
|1y Target Est||N/A|
Automatic Data Processing Inc NASDAQ/NGS:ADP
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 resources outsourcing company by targeting an often-ignored but influential group of people - retail investors. The activist investor who spends much of his time meeting institutional shareholders in Wall Street boardrooms is now speaking directly to the Main Street investor through video, telephone and television as his proxy fight with ADP intensifies before the company's annual meeting on Nov. 7. Now, his campaign to get himself and two other nominees associated with his Pershing Square Capital Management hedge fund elected to the ADP board is taking a tack seldom seen in proxy contests: speaking to the company's retail investors to win their votes.
Bill Ackman is scrutinizing Automatic Data Processing once again and drawing the ire of fellow hedge funders in the process. The CEO and founder of Pershing Square (PSHZF) took a look at the returns ADP is reporting under its current chief executive, Carlos Rodriguez, and believes they are wrong. "Those numbers are not correct, and one of the things we're going to point out in a presentation we're going to release tomorrow is that the company overstates their total shareholder return under the CEO's track record," Ackman said Wednesday .