ADP Falls as Ackman Says Shares Could Double by 2021

The transcript discusses Bill Ackman's view on ADP's stock, suggesting it could double in four years. Ackman criticizes ADP's current margin and investment strategies, advocating for a focus on technology. He proposes gaining board seats to implement changes, causing tension with former director Leon Cooperman. ADP's response is anticipated, with the stock currently falling due to shareholder concerns.

How does Ackman characterize the response from ADP to his proposals?

What impact does the traditional business model of ADP have on its shareholders according to the discussion?