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Billionaire Bill Ackman recently shared his thoughts on Automatic Data Processing, Inc. (NASDAQ:ADP) in Pershing Square's Q1 2019 Investors Letter (track down here). According to him, the company has a good chance to boost its top-line revenue growth and expand margins. Pershing Square also disclosed its quarterly return in the letter, reporting a 36.9% increase of NAV per share.
"Automatic Data Processing, Inc. (“ADP”)
Automatic Data Processing, Inc., (ADP) is a $70.44 billion market cap company that provides a variety of professional human resources-related services. It runs through two segments: The Employer Services and Professional Employer Organization. The company was founded back in 1949, and through 2014 it was one of the four American Companies among the S&P 500 to have a AAA credit rating from both Moody’s and Standard & Poor’s. Its headquarters is in Roseland, New Jersey.
Year-to-date, the company’s stock is up by 24.37%, having a closing price of $161.85 on May 24th. ADP is trading at a price-to-earnings ratio of 41.90.