As Adp (ADP) Stock Value Declined, Berkshire Asset Management Has Trimmed by $5.66 Million Its Holding; Banc Of California (BANC) Shareholder Clover Partners LP Has Lifted Holding by $3.50 Million as Market Value Rose

January 18, 2018 - By Michael Collier

Berkshire Asset Management Llc decreased its stake in Adp (ADP) by 80.39% based on its latest 2017Q3 regulatory filing with the SEC. Berkshire Asset Management Llc sold 51,953 shares as the company’s stock declined 1.06% while stock markets rallied. The hedge fund held 12,674 shares of the technology company at the end of 2017Q3, valued at $1.39M, down from 64,627 at the end of the previous reported quarter. Berkshire Asset Management Llc who had been investing in Adp for a number of months, seems to be less bullish one the $53.73 billion market cap company. The stock decreased 0.73% or $0.89 during the last trading session, reaching $121.16. About 386,060 shares traded. Automatic Data Processing, Inc. (NASDAQ:ADP) has risen 15.83% since January 18, 2017 and is uptrending. It has underperformed by 0.87% the S&P500.

Clover Partners Lp increased its stake in Banc Of California Inc (BANC) by 33.33% based on its latest 2017Q3 regulatory filing with the SEC. Clover Partners Lp bought 175,000 shares as the company’s stock rose 1.76% with the market. The hedge fund held 700,000 shares of the finance company at the end of 2017Q3, valued at $14.53M, up from 525,000 at the end of the previous reported quarter. Clover Partners Lp who had been investing in Banc Of California Inc for a number of months, seems to be bullish on the $1.04 billion market cap company. The stock increased 0.70% or $0.15 during the last trading session, reaching $21.65. About 88,322 shares traded. Banc of California, Inc. (NYSE:BANC) has risen 6.54% since January 18, 2017 and is uptrending. It has underperformed by 10.16% the S&P500.

Investors sentiment decreased to 0.98 in 2017 Q3. Its down 0.05, from 1.03 in 2017Q2. It dived, as 25 investors sold BANC shares while 60 reduced holdings. 30 funds opened positions while 53 raised stakes. 59.57 million shares or 8.21% more from 55.06 million shares in 2017Q2 were reported. Mendon Corp has 0.17% invested in Banc of California, Inc. (NYSE:BANC) for 100,000 shares. Invesco Ltd has invested 0% in Banc of California, Inc. (NYSE:BANC). Foundry Prns Ltd accumulated 17,450 shares or 0.01% of the stock. Bancshares Of Montreal Can accumulated 912 shares. Ancora Advsr Ltd holds 25,673 shares. Metropolitan Life Insurance Company Ny accumulated 28,420 shares or 0% of the stock. Ameriprise Fin Inc, a Minnesota-based fund reported 232,447 shares. Pnc Fincl Service Gru accumulated 0% or 350 shares. Counselors Of Maryland Limited Liability Com reported 718,095 shares. Patriot Financial Prtnrs LP reported 26.58% stake. Gp Incorporated One Trading Lp invested 0% in Banc of California, Inc. (NYSE:BANC). The Texas-based Dimensional Fund Advsr LP has invested 0.02% in Banc of California, Inc. (NYSE:BANC). 21,046 were accumulated by Two Sigma Secs Ltd Co. Moreover, Asset has 0% invested in Banc of California, Inc. (NYSE:BANC). Trexquant Investment Lp reported 0.08% of its portfolio in Banc of California, Inc. (NYSE:BANC).

Among 9 analysts covering Banc of California (NYSE:BANC), 7 have Buy rating, 0 Sell and 2 Hold. Therefore 78% are positive. Banc of California had 21 analyst reports since November 9, 2015 according to SRatingsIntel. FBR Capital upgraded it to “Outperform” rating and $22 target in Thursday, January 26 report. The stock of Banc of California, Inc. (NYSE:BANC) has “Hold” rating given on Thursday, December 21 by Keefe Bruyette & Woods. On Thursday, October 20 the stock rating was maintained by FBR Capital with “Mkt Perform”. The firm has “Mkt Perform” rating by Raymond James given on Monday, November 9. The stock of Banc of California, Inc. (NYSE:BANC) has “Outperform” rating given on Monday, May 2 by Wells Fargo. The rating was maintained by Keefe Bruyette & Woods with “Hold” on Thursday, September 28. DA Davidson upgraded the shares of BANC in report on Thursday, October 20 to “Buy” rating. As per Monday, June 5, the company rating was maintained by Keefe Bruyette & Woods. The company was initiated on Monday, May 23 by UBS. The company was maintained on Monday, August 28 by Keefe Bruyette & Woods.

Clover Partners Lp, which manages about $166.98M and $249.12 million US Long portfolio, decreased its stake in Independent Bank Corp Mich (NASDAQ:IBCP) by 25,000 shares to 530,687 shares, valued at $12.02 million in 2017Q3, according to the filing. It also reduced its holding in United Finl Bancorp Inc New (NASDAQ:UBNK) by 141,200 shares in the quarter, leaving it with 523,156 shares, and cut its stake in Capital Southwest Corp (NASDAQ:CSWC).

Since September 1, 2017, it had 0 insider purchases, and 19 insider sales for $30.33 million activity. Black Maria had sold 2,239 shares worth $259,156 on Tuesday, January 2. $11.31 million worth of Automatic Data Processing, Inc. (NASDAQ:ADP) was sold by Rodriguez Carlos A on Wednesday, January 3. Another trade for 48,989 shares valued at $5.68M was sold by Siegmund Jan. 4,098 shares were sold by O’Brien Dermot J, worth $437,011 on Friday, September 1. 5,688 shares were sold by JONES JOHN P III, worth $659,979. Flynn Edward B III sold $2.34M worth of Automatic Data Processing, Inc. (NASDAQ:ADP) on Sunday, December 31.

Berkshire Asset Management Llc, which manages about $867.20M and $896.29M US Long portfolio, upped its stake in At&T (NYSE:T) by 36,256 shares to 369,523 shares, valued at $14.47 million in 2017Q3, according to the filing. It also increased its holding in General Electric (NYSE:GE) by 36,870 shares in the quarter, for a total of 958,533 shares, and has risen its stake in Nucor (NYSE:NUE).

Investors sentiment decreased to 0.68 in Q3 2017. Its down 0.09, from 0.77 in 2017Q2. It dived, as 60 investors sold ADP shares while 457 reduced holdings. 109 funds opened positions while 241 raised stakes. 342.26 million shares or 3.77% less from 355.68 million shares in 2017Q2 were reported. Moreover, Barr E S & Company has 0.03% invested in Automatic Data Processing, Inc. (NASDAQ:ADP). Murphy Cap Mgmt Incorporated invested in 4,524 shares or 0.07% of the stock. Brighton Jones Limited Liability Corp reported 0.05% stake. 24,000 are held by Axel Cap Management Limited Liability Corp. Dumont & Blake Investment has 0.88% invested in Automatic Data Processing, Inc. (NASDAQ:ADP). Fjarde Ap accumulated 109,665 shares. Dekabank Deutsche Girozentrale owns 55,946 shares or 0.05% of their US portfolio. Fifth Third Bancorp has invested 0.45% in Automatic Data Processing, Inc. (NASDAQ:ADP). Ntv Asset Mngmt Ltd has 0.36% invested in Automatic Data Processing, Inc. (NASDAQ:ADP) for 11,484 shares. Mitchell Sinkler & Starr Pa invested in 1.49% or 8,722 shares. Twin Tree Mngmt LP owns 9,218 shares or 0.01% of their US portfolio. Headinvest Limited Com invested in 0.28% or 7,640 shares. Epoch Investment Prtnrs invested in 271,969 shares. Middleton And Comm Inc Ma owns 5,216 shares. Foster Dykema Cabot & Incorporated Ma has invested 0.06% in Automatic Data Processing, Inc. (NASDAQ:ADP).

Among 19 analysts covering Automatic Data (NASDAQ:ADP), 5 have Buy rating, 2 Sell and 12 Hold. Therefore 26% are positive. Automatic Data had 50 analyst reports since August 3, 2015 according to SRatingsIntel. The company was maintained on Friday, November 3 by BMO Capital Markets. The firm earned “Neutral” rating on Friday, July 29 by Citigroup. The company was upgraded on Tuesday, December 5 by Bank of America. The stock has “Overweight” rating by Barclays Capital on Tuesday, December 20. Morgan Stanley downgraded the stock to “Underweight” rating in Thursday, August 3 report. The firm has “Hold” rating by BMO Capital Markets given on Tuesday, September 12. The rating was maintained by Stifel Nicolaus on Monday, January 30 with “Hold”. On Monday, August 31 the stock rating was upgraded by William Blair to “Outperform”. The firm has “Outperform” rating given on Tuesday, October 31 by Bernstein. On Friday, October 13 the stock rating was maintained by Bank of America with “Neutral”.

Analysts await Automatic Data Processing, Inc. (NASDAQ:ADP) to report earnings on February, 7. They expect $0.89 EPS, up 2.30% or $0.02 from last year’s $0.87 per share. ADP’s profit will be $394.70M for 34.03 P/E if the $0.89 EPS becomes a reality. After $0.91 actual EPS reported by Automatic Data Processing, Inc. for the previous quarter, Wall Street now forecasts -2.20% negative EPS growth.

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