Mercer Capital Advisers Lowers stake in CDK Global Inc (CDK)

CDK Global Inc (CDK) : Mercer Capital Advisers reduced its stake in CDK Global Inc by 5.83% during the most recent quarter end. The investment management company now holds a total of 1,066 shares of CDK Global Inc which is valued at $50,742 after selling 66 shares in CDK Global Inc , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.CDK Global Inc makes up approximately 0.04% of Mercer Capital Advisers’s portfolio.

CDK Global Inc opened for trading at $47.3 and hit $48.1 on the upside on Wednesday, eventually ending the session at $48.02, with a gain of 1.18% or 0.56 points. The heightened volatility saw the trading volume jump to 4,93,190 shares. Company has a market cap of $7,456 M.

Other Hedge Funds, Including , Highland Capital Management reduced its stake in CDK by selling 52 shares or 0.59% in the most recent quarter. The Hedge Fund company now holds 8,719 shares of CDK which is valued at $414,196. CDK Global Inc makes up approx 0.04% of Highland Capital Management’s portfolio.

On the company’s financial health, CDK Global Inc reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Feb 3, 2016. Analyst had a consensus of $0.37. The company had revenue of $520.10 million for the quarter, compared to analysts expectations of $513.56 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

Many Wall Street Analysts have commented on CDK Global Inc. Company shares were Upgraded by JP Morgan on Apr 6, 2016 to ” Neutral”, Firm has raised the Price Target to $ 49 from a previous price target of $43 .CDK Global Inc was Upgraded by Barrington Research to ” Outperform” on Feb 4, 2016.

CDK Global Inc. is a global provider both integrated technology and digital marketing/advertising solutions to the automotive retail industry. The Company’s solutions automate and integrate critical workflow processes from pre-sale targeted advertising and marketing campaigns to the sale financing insurance parts supply repair and maintenance of vehicles with an increasing focus on utilizing big data analytics and predictive intelligence. The Company’s solutions address the entire automotive retailers’ value chain. The Company operates in three segments: Automotive Retail Solutions North America (North American Automotive Retail) Automotive Retail Solutions International (International Automotive Retail) and Digital Marketing Solutions (Digital Marketing).

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