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

May 17, 2018 - By Connie Jacobs

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

According to 2018Q1 Securities and Exchange regulatory form Scharf Investments Llc increased its stake 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. It held 2.44 million shares of Cdk Global Inc (NASDAQ:CDK) at the end of 2018Q1, valued at $154.61 million, up from 1.63 million last quarter. $8.50B is the MC of Cdk Global Inc. The stock increased 0.94% or $0.6 during the last trading session, hitting $64.59.Currently CDK Global, Inc. is downtrending after 2.80% change in last May 17, 2017. CDK has 542,242 shares volume. CDK underperformed by 14.35% the S&P500.

According to the regulatory form Scharf Investments Llc decreased its stake in Oracle Corp (NYSE:ORCL) by 972,272 shares to 4.46M shares, valued at $203.91 million in 2018Q1. The fund has $2.69 billion and $3.56B US longs. Scharf Investments Llc cut its stake in Apple Inc (NASDAQ:AAPL) and reduced Advance Auto Parts Inc (NYSE:AAP) position by 118,327 shares for a total of 1.41M shares.

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

In total 3 analysts cover CDK Global (NASDAQ:CDK). “Buy” rating has 1, “Sell” are 0, while 2 are “Hold”. 33% are bullish. 4 are the (NASDAQ:CDK)’s analyst reports since January 17, 2018 according to StockzIntelligence Inc. On Wednesday, January 17 the stock of CDK Global, Inc. (NASDAQ:CDK) has “Market Perform” rating given by Barrington Research. 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 rating was maintained by Morgan Stanley with “Equal-Weight”.

CDK Global, Inc. provides integrated information technology and digital marketing solutions to the automotive retail and other industries worldwide.The firm is valued at $8.50 billion. 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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