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ADP

ADP

$109.66

1.15 (1.06%)

10:35
08/10/17
08/10
10:35
08/10/17
10:35

ADP 'willing to listen' to Ackman, not willing to extend nomination deadline

ADP CEO Carlos Rodriguez is being interviewed on CNBC regarding the nomination of directors to the company's board made by Bill Ackman's Pershing Square.

ADP ADP
$109.66

1.15 (1.06%)

08/03/17
08/03/17
DOWNGRADE
Target $100

Underweight
ADP downgraded to Underweight at Morgan Stanley
As previously reported, Morgan Stanley downgraded ADP to Underweight from Equal Weight and raised its price target to $100 from $98. Analyst Danyal Hussain said there are not quick "fixes" to ADP's strategy, even with an activist investor, as margin expansion opportunities are limited and notes the stock has been pricing in improving fundamentals, which are likely to disappoint.
08/03/17
MSCO
08/03/17
DOWNGRADE
MSCO
Underweight
ADP downgraded to Underweight from Equal Weight at Morgan Stanley
07/31/17
EVER
07/31/17
UPGRADE
EVER
In Line
ADP upgraded to In Line from Underperform at Evercore ISI
Evercore ISI analyst David Togut upgraded ADP to In Line with a $115 price target following disclosure of Bill Ackman's recently disclosed stake in the company. The analyst expects shares to respond more to the Ackman's shareholder creating value ideas rather than underlying business fundamentals.
07/27/17
BARD
07/27/17
NO CHANGE
Target $95
BARD
Neutral
Baird sees Ackman revisting prior play book at ADP
Baird analyst Mark Marcon noted that Bill Ackman previously owned a position in ADP (ADP) from 2009-2011 and agitated for changes that included rationalizing its balance sheet and spinning off non-core businesses, followed by the company spinning off CDK and buying back stock. With Ackman now reportedly back in the stock, he expects a renewal of the play book, but believes shareholder value enhancement from buy backs would be "modest" given the stock's current level. "Ironically," ADP also suggested competitive wins against Paychex (PAYX) on its earnings call today, but that stock is also rising following the Ackman news, Marcon said. He keeps a Neutral rating on ADP shares.

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Calpine

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Deere

$123.98

-2.65 (-2.09%)

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PNM

PNM Resources

$41.70

-0.3 (-0.71%)

06:39
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Downgrade
PNM Resources rating change  »

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CVX

Chevron

$105.92

-0.92 (-0.86%)

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LB

L Brands

$37.55

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DE

Deere

$123.98

-2.65 (-2.09%)

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HSY

Hershey

$107.85

1.81 (1.71%)

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Hershey analyst commentary  »

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HIBB

Hibbett Sports

$11.50

-0.3 (-2.54%)

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Hibbett Sports sees 'continued soft sales' for remainder of FY18 »

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Raven

$33.45

-0.975 (-2.83%)

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PACW

PacWest Bancorp

$44.13

-1.63 (-3.56%)

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CATY

Cathay General

$34.97

-0.94 (-2.62%)

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HIBB

Hibbett Sports

$11.50

-0.3 (-2.54%)

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DE

Deere

$123.98

-2.65 (-2.09%)

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Earnings
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HIBB

Hibbett Sports

$11.50

-0.3 (-2.54%)

06:32
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Earnings
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PM

Philip Morris

$115.93

-1.8 (-1.53%)

06:32
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MTZ

MasTec

$39.20

0.45 (1.16%)

, PWR

Quanta Services

$33.83

-0.44 (-1.28%)

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Upgrade
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$39.20

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PWR

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HIBB

Hibbett Sports

$11.50

-0.3 (-2.54%)

06:31
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Earnings
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