Automatic Data Processing (ADP) Market Value Declined While Coastline Trust Co Has Cut Stake by $462,160; Carmignac Gestion Increases Holding in Grubhub (GRUB)

February 18, 2018 - By Louis Casey

Coastline Trust Co decreased its stake in Automatic Data Processing Inc (ADP) by 5.93% based on its latest 2017Q3 regulatory filing with the SEC. Coastline Trust Co sold 4,240 shares as the company’s stock declined 1.06% while stock markets rallied. The institutional investor held 67,290 shares of the technology company at the end of 2017Q3, valued at $7.36M, down from 71,530 at the end of the previous reported quarter. Coastline Trust Co who had been investing in Automatic Data Processing Inc for a number of months, seems to be less bullish one the $51.50 billion market cap company. The stock increased 0.58% or $0.67 during the last trading session, reaching $116.18. About 1.45 million shares traded. Automatic Data Processing, Inc. (NASDAQ:ADP) has risen 15.83% since February 18, 2017 and is uptrending. It has underperformed by 0.87% the S&P500.

Carmignac Gestion increased its stake in Grubhub Inc (GRUB) by 5.17% based on its latest 2017Q3 regulatory filing with the SEC. Carmignac Gestion bought 257,429 shares as the company’s stock rose 15.35% with the market. The institutional investor held 5.23M shares of the business services company at the end of 2017Q3, valued at $275.62 million, up from 4.98 million at the end of the previous reported quarter. Carmignac Gestion who had been investing in Grubhub Inc for a number of months, seems to be bullish on the $8.35 billion market cap company. The stock increased 1.62% or $1.53 during the last trading session, reaching $95.93. About 1.84 million shares traded or 11.27% up from the average. GrubHub Inc. (NYSE:GRUB) has risen 94.22% since February 18, 2017 and is uptrending. It has outperformed by 77.52% the S&P500.

Among 32 analysts covering Grubhub Inc (NYSE:GRUB), 19 have Buy rating, 3 Sell and 10 Hold. Therefore 59% are positive. Grubhub Inc had 120 analyst reports since July 27, 2015 according to SRatingsIntel. RBC Capital Markets downgraded GrubHub Inc. (NYSE:GRUB) on Wednesday, October 28 to “Sector Perform” rating. Bank of America downgraded the shares of GRUB in report on Friday, July 29 to “Neutral” rating. Monness Crespi downgraded the shares of GRUB in report on Friday, July 29 to “Neutral” rating. The firm has “Equal Weight” rating given on Friday, July 29 by Barclays Capital. Susquehanna maintained the stock with “Hold” rating in Friday, February 9 report. As per Thursday, February 8, the company rating was maintained by Mizuho. Canaccord Genuity maintained GrubHub Inc. (NYSE:GRUB) rating on Thursday, August 10. Canaccord Genuity has “Buy” rating and $5000 target. The rating was downgraded by Monness Crespi to “Sell” on Tuesday, January 3. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, July 2. Oppenheimer maintained the stock with “Buy” rating in Monday, July 31 report.

Carmignac Gestion, which manages about $13.01B US Long portfolio, decreased its stake in Noble Energy Inc (Prn) (Put) (NYSE:NBL) by 11.45M shares to 300,000 shares, valued at $8.51 million in 2017Q3, according to the filing. It also reduced its holding in Visa Inc (NYSE:V) by 106,612 shares in the quarter, leaving it with 3.42M shares, and cut its stake in Yy Inc (NASDAQ:YY).

Since September 1, 2017, it had 0 insider buys, and 31 sales for $37.63 million activity. $3.53M worth of Automatic Data Processing, Inc. (NASDAQ:ADP) was sold by Bonarti Michael A. Shares for $159,309 were sold by Albinson Brock on Tuesday, January 2. Shares for $577,837 were sold by Black Maria. $55,346 worth of Automatic Data Processing, Inc. (NASDAQ:ADP) shares were sold by Sackman Stuart. 1,592 Automatic Data Processing, Inc. (NASDAQ:ADP) shares with value of $184,720 were sold by Dyson Deborah L. Weinstein Donald also sold $263,968 worth of Automatic Data Processing, Inc. (NASDAQ:ADP) on Tuesday, January 2.

Coastline Trust Co, which manages about $573.48M US Long portfolio, upped its stake in Amazon Com Inc (NASDAQ:AMZN) by 1,269 shares to 3,871 shares, valued at $3.72M in 2017Q3, according to the filing. It also increased its holding in Walt Disney Company (NYSE:DIS) by 9,465 shares in the quarter, for a total of 21,725 shares, and has risen its stake in Resmed Inc (NYSE:RMD).

Among 19 analysts covering Automatic Data (NASDAQ:ADP), 4 have Buy rating, 2 Sell and 13 Hold. Therefore 21% are positive. Automatic Data had 57 analyst reports since August 3, 2015 according to SRatingsIntel. Bank of America maintained the stock with “Neutral” rating in Friday, October 13 report. Robert W. Baird downgraded Automatic Data Processing, Inc. (NASDAQ:ADP) on Friday, July 29 to “Neutral” rating. On Monday, May 2 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. The stock of Automatic Data Processing, Inc. (NASDAQ:ADP) earned “Sell” rating by Topeka Capital Markets on Thursday, October 29. Argus Research maintained it with “Buy” rating and $130 target in Thursday, August 3 report. The firm has “Hold” rating given on Wednesday, January 31 by Robert W. Baird. Citigroup maintained it with “Neutral” rating and $90 target in Friday, July 29 report. The firm has “Neutral” rating by Wedbush given on Friday, September 9. The firm earned “Buy” rating on Monday, December 11 by Goldman Sachs. As per Friday, August 14, the company rating was maintained by JP Morgan.

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By1 Louis Casey

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