Cdk Global Inc (NASDAQ:CDK) Shareholder Scharf Investments Llc Upped Its Position as Price Declined by $51.35 Million

May 17, 2018 - By Frank Plummer

CDK Global, Inc. (NASDAQ:CDK) Corporate Logo

Based on the latest 2018Q1 regulatory form from the SEC, Scharf Investments Llc upped its holdings in Cdk Global Inc (NASDAQ:CDK) by 50.14%. Cdk Global Inc (NASDAQ:CDK) stock Sank 11.91% while Scharf Investments Llc bought 815,115 shares. Scharf Investments Llc announced $154.61 million position in Scharf Investments Llc for 2018Q1. Now it holds 2.44M shares, compared to 1.63 million last quarter. $8.50B is the MC of Cdk Global Inc. CDK is reaching $64.59 during the last trading session, after increased 0.94%.CDK Global, Inc. has volume of 542,242 shares. Since May 17, 2017 CDK has declined 2.80% and is downtrending. CDK underperformed by 14.35% the S&P 500.

According to the regulatory form Scharf Investments Llc decreased its stake in Spdr S&P 500 Etf Tr (SPY) by 58,147 shares to 63,027 shares, valued at $16.59 million in 2018Q1. The fund has $2.69 billion and $3.56 billion US longs. It decreased Kansas City Southern (NYSE:KSU) position by 248,861 shares to 929,817 shares, and cut its Time Warner Inc (NYSE:TWX) stake.

Scharf Investments Llc is a California-based institutional investor with more than $2.69 billion AUM in January, 2015. Taken from Scharf Investments latest Adv, the fund reported to have 16 full and part-time employees. Among which 10 performing investment advisory and research functions. The institutional investor had more than 1300 clients.

CDK Global, Inc. (NASDAQ:CDK) Ratings Coverage

A total of 3 analysts rate CDK Global (NASDAQ:CDK) as follows: 1 “Buy”, 2 “Hold” and 0 “Sell”. Тherefore 33% are bullish. (NASDAQ:CDK) has 4 ratings reports on 17 May 2018 according to StockzIntelligence. On Wednesday, January 31 the firm earned “Buy” rating by Wells Fargo. On Wednesday, January 31 the rating was maintained by Morgan Stanley with “Equal-Weight”. On Friday, April 27 the company was maintained by Morgan Stanley. On Wednesday, January 17 the stock has “Market Perform” rating by Barrington Research.

CDK Global, Inc. provides integrated information technology and digital marketing solutions to the automotive retail and other industries worldwide.The company has $8.50 billion market cap. The firm operates through Retail Solutions North America, Advertising North America, and CDK International divisions.The P/E ratio is 28.72. It offers technology solutions, including automotive Website platforms; and advertising solutions comprising the management of digital advertising spend for original equipment manufacturers and automotive retailers.

CDK Global, Inc. (NASDAQ:CDK) Analyst Ratings Chart

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