As Cdk Global Inc (NASDAQ:CDK) Price Declined, Scharf Investments Llc Upped Its Position

May 17, 2018 - By Theresa Judd

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

The holdings In Cdk Global Inc (NASDAQ:CDK) owned by Scharf Investments Llc was increased. According to 2018Q1 Securities and Exchange regulatory form the increase is 50.14%. Cdk Global Inc (NASDAQ:CDK) stock Sank 11.91% while Scharf Investments Llc bought 815,115 shares. Scharf Investments Llc is holding 2.44 million shares, compared to 1.63M last quarter. The announced value is $154.61M. $8.50 billion is the MC of Cdk Global Inc. Ticker’s shares touched $64.59 during the last trading session after 0.94% change.Currently CDK Global, Inc. is downtrending after 2.80% change in last May 17, 2017. CDK has 542,242 shares volume. CDK underperformed the S&P500 by 14.35%.

According to the regulatory form Scharf Investments Llc reduced its stake in Gentex Corp (NASDAQ:GNTX) by 466,757 shares to 4.82 million shares, valued at $111.02M in 2018Q1. The fund has $2.69B and $3.56 billion US longs. Scharf Investments Llc cut its stake in Apple Inc (NASDAQ:AAPL) and reduced Dollar Gen Corp New (NYSE:DG) position by 2.08M shares for a total of 8,847 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

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 stock of CDK Global, Inc. (NASDAQ:CDK) earned “Equal-Weight” rating by Morgan Stanley. On Friday, April 27 the firm earned “Equal-Weight” rating by Morgan Stanley. In Wednesday, January 31 report Wells Fargo maintained it with “Buy” rating and $80.0 target. On Wednesday, January 17 the company was downgraded by Barrington Research.

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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