Marble Arch Investments LP Position in Cdk Global INC (CDK) Boosted as Stock Price Declined

March 4, 2018 - By Dolores Ford

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 $9.22B market cap company. The stock increased 1.24% or $0.84 during the last trading session, reaching $68.48. About 974,677 shares traded. CDK Global, Inc. (NASDAQ:CDK) has risen 18.92% since March 4, 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 Transdigm Group Inc (NYSE:TDG) by 98,000 shares to 244,000 shares, valued at $62.38M in 2017Q3, according to the filing. It also reduced its holding in Servicemaster Global Hldgs I (NYSE:SERV) by 501,400 shares in the quarter, leaving it with 3.06M shares, and cut its stake in Armstrong World Inds Inc New (NYSE:AWI).

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 has $80.0 highest and $46 lowest target. $70.40’s average target is 2.80% above currents $68.48 stock price. CDK Global had 15 analyst reports since August 14, 2015 according to SRatingsIntel. The stock of CDK Global, Inc. (NASDAQ:CDK) earned “Outperform” rating by Barrington Research on Thursday, February 4. The firm has “Equal-Weight” rating given on Wednesday, January 31 by Morgan Stanley. The firm has “Underweight” rating given on Tuesday, January 19 by Morgan Stanley. Morgan Stanley upgraded the stock to “Equal-Weight” rating in Friday, February 3 report. Wells Fargo upgraded CDK Global, Inc. (NASDAQ:CDK) on Wednesday, June 21 to “Outperform” rating. The rating was maintained by Oppenheimer on Wednesday, August 9 with “Buy”. The rating was upgraded by JP Morgan on Wednesday, April 6 to “Neutral”. The stock has “Market Perform” rating by Barrington Research on Wednesday, January 17. The firm has “Underweight” rating given on Tuesday, December 15 by JP Morgan. JP Morgan maintained it with “Underweight” rating and $50 target in Friday, August 14 report.

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