Marble Arch Investments LP Continues to Hold Stake in Cdk Global INC (CDK)

March 14, 2018 - By Migdalia James

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 $62.90M, 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 $1.51 billion US Long portfolio, decreased its stake in Armstrong World Inds Inc New (NYSE:AWI) by 187,000 shares to 1.56 million shares, valued at $80.10 million in 2017Q3, according to the filing. It also reduced its holding in Liberty Media Corp Delaware by 215,700 shares in the quarter, leaving it with 1.78 million shares, and cut its stake in Servicemaster Global Hldgs I (NYSE:SERV).

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. JP Morgan maintained the shares of CDK in report on Friday, August 14 with “Underweight” rating. The rating was upgraded by Barrington Research to “Outperform” on Thursday, February 4. On Tuesday, January 19 the stock rating was downgraded by Morgan Stanley to “Underweight”. The firm has “Market Perform” rating by Barrington Research given on Wednesday, January 17. Morgan Stanley maintained the stock with “Equal-Weight” rating in Wednesday, January 31 report. The firm has “Outperform” rating given on Wednesday, June 21 by Wells Fargo. On Wednesday, April 6 the stock rating was upgraded by JP Morgan to “Neutral”. The rating was maintained by Wells Fargo on Wednesday, January 31 with “Buy”. The firm earned “Underweight” rating on Tuesday, December 15 by JP Morgan. Evercore upgraded CDK Global, Inc. (NASDAQ:CDK) on Monday, July 10 to “Outperform” rating.

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