Lorem Ipsum Management Lowers stake in CDK Global Inc (CDK)

CDK Global Inc (CDK) : Lorem Ipsum Management reduced its stake in CDK Global Inc by 77.53% during the most recent quarter end. The investment management company now holds a total of 20,000 shares of CDK Global Inc which is valued at $1,122,600 after selling 69,011 shares in CDK Global Inc , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.CDK Global Inc makes up approximately 4.43% of Lorem Ipsum Management’s portfolio.

Other Hedge Funds, Including , West Oak Capital reduced its stake in CDK by selling 15 shares or 0.49% in the most recent quarter. The Hedge Fund company now holds 3,018 shares of CDK which is valued at $170,125. CDK Global Inc makes up approx 0.12% of West Oak Capital’s portfolio.

CDK Global Inc closed down -1.22 points or -2.17% at $54.91 with 4,26,310 shares getting traded on Tuesday. Post opening the session at $55.9, the shares hit an intraday low of $54.65 and an intraday high of $55.9 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, CDK Global Inc reported $0.49 EPS for the quarter, based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus estimate of $0.49. The company had revenue of $542.20 million for the quarter, compared to analysts expectations of $533.84 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

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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