Lakewood Capital Management LP Has Increased Cdk Global INC (CDK) Stake

July 18, 2017 - By Stephen Andrade

Anthony Bozza increased its stake in Cdk Global Inc (CDK) by 15.88% based on its latest 2016Q4 regulatory filing with the SEC. Lakewood Capital Management Lp bought 185,000 shares as the company’s stock declined 6.12% while stock markets rallied. The hedge fund run by Anthony Bozza held 1.35 million shares of the miscellaneous company at the end of 2016Q4, valued at $80.57M, up from 1.16M at the end of the previous reported quarter. Lakewood Capital Management Lp who had been investing in Cdk Global Inc for a number of months, seems to be bullish on the $9.39B market cap company. The stock declined 0.08% or $0.05 reaching $64.25 on the news. About 11,760 shares traded. CDK Global Inc (NASDAQ:CDK) has risen 18.92% since July 18, 2016 and is uptrending. It has outperformed by 2.22% the S&P500.

Lakewood Capital Management Lp, which manages about $2.21 billion US Long portfolio, decreased its stake in Mastercard Incorporated (NYSE:MA) by 165,000 shares to 1.45M shares, valued at $150.02M in 2016Q4, according to the filing. It also reduced its holding in American Cap Ltd (NASDAQ:ACAS) by 790,000 shares in the quarter, leaving it with 500,884 shares, and cut its stake in Capital One Finl Corp (NYSE:COF).

More news for CDK Global Inc (NASDAQ:CDK) were recently published by: Businesswire.com, which released: “CDK Global and NAMAD Announce “Fueling Careers” Scholarship Winners” on July 14, 2017. Prweb.com‘s article titled: “RevolutionParts Joins Rapidly Expanding Partner Program from CDK Global” and published on July 11, 2017 is yet another important article.

CDK Global Inc (NASDAQ:CDK) Ratings Coverage

Among 6 analysts covering CDK Global (NASDAQ:CDK), 3 have Buy rating, 0 Sell and 3 Hold. Therefore 50% are positive. CDK Global had 9 analyst reports since August 14, 2015 according to SRatingsIntel. The rating was upgraded by Barrington Research on Thursday, February 4 to “Outperform”. On Friday, February 3 the stock rating was upgraded by Morgan Stanley to “Equal-Weight”. Morgan Stanley downgraded the stock to “Underweight” rating in Tuesday, January 19 report. The stock of CDK Global Inc (NASDAQ:CDK) has “Outperform” rating given on Monday, July 10 by Evercore. JP Morgan upgraded it to “Neutral” rating and $49 target in Wednesday, April 6 report. The firm earned “Underweight” rating on Tuesday, December 15 by JP Morgan. The stock of CDK Global Inc (NASDAQ:CDK) earned “Underweight” rating by JP Morgan on Friday, August 14. The firm has “Outperform” rating given on Wednesday, June 21 by Wells Fargo.

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