Marble Arch Investments LP Stake in Cdk Global INC (CDK) Raised by $3.78 Million as Share Value Declined

March 14, 2018 - By Louis Casey

Scott Mclellan increased its stake in Cdk Global Inc (CDK) by 6.4% based on its latest 2017Q3 regulatory filing with the SEC. Marble Arch Investments Lp bought 60,000 shares as the company’s stock declined 6.12% while stock markets rallied. The hedge fund run by Scott Mclellan held 997,000 shares of the miscellaneous company at the end of 2017Q3, valued at $62.90 million, up from 937,000 at the end of the previous reported quarter. Marble Arch Investments Lp who had been investing in Cdk Global Inc for a number of months, seems to be bullish on the $9.36 billion market cap company. The stock decreased 0.95% or $0.67 during the last trading session, reaching $69.56. About 695,522 shares traded. CDK Global, Inc. (NASDAQ:CDK) has risen 18.92% since March 14, 2017 and is uptrending. It has outperformed by 2.22% the S&P500.

Marble Arch Investments Lp, which manages about $1.96 billion and $1.51B US Long portfolio, decreased its stake in Comcast Corp New (NASDAQ:CMCSA) by 281,000 shares to 1.52 million shares, valued at $58.37M in 2017Q3, according to the filing. It also reduced its holding in Microsoft Corp (NASDAQ:MSFT) by 142,500 shares in the quarter, leaving it with 1.31M shares, and cut its stake in Transdigm Group Inc (NYSE:TDG).

Another recent and important CDK Global, Inc. (NASDAQ:CDK) news was published by which published an article titled: “CDK Global, Inc. (CDK) Ex-Dividend Date Scheduled for February 28, 2018” on February 27, 2018.

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

Among 8 analysts covering CDK Global (NASDAQ:CDK), 4 have Buy rating, 0 Sell and 4 Hold. Therefore 50% are positive. CDK Global had 15 analyst reports since August 14, 2015 according to SRatingsIntel. Evercore upgraded the shares of CDK in report on Monday, July 10 to “Outperform” rating. The company was maintained on Friday, August 14 by JP Morgan. As per Tuesday, January 19, the company rating was downgraded by Morgan Stanley. On Wednesday, June 21 the stock rating was upgraded by Wells Fargo to “Outperform”. Wells Fargo maintained CDK Global, Inc. (NASDAQ:CDK) on Wednesday, January 31 with “Buy” rating. The stock has “Equal-Weight” rating by Morgan Stanley on Friday, February 3. Morgan Stanley maintained the shares of CDK in report on Wednesday, January 31 with “Equal-Weight” rating. The company was upgraded on Thursday, February 4 by Barrington Research. The rating was maintained by JP Morgan on Tuesday, December 15 with “Underweight”. The rating was downgraded by Barrington Research on Wednesday, January 17 to “Market Perform”.

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