|Bid||56.00 x 50000|
|Ask||64.38 x 100|
|Day's Range||62.18 - 63.68|
|52 Week Range||47.62 - 74.49|
|PE Ratio (TTM)||21.57|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
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. Ackman's hedge fund Pershing Square Capital Management owns 8.3 percent of the $50 billion company and he is asking for board seats for himself plus two independent directors and considering pushing the board to make leadership changes. "The person who will fix this is the chief executive officer," Ackman said on a 3-1/2-hour conference call which marked his first public discussion of the investment.
Robert Chapman tells CNBC's Scott Wapner he shorted ADP shares with an average cost of $119.50.
Herbalife (HLF) warrants investors' attention based on moves in the options market lately.