Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Dealertrack Technologies (NASDAQ:TRAK) rose more than 11% Wednesday, after the company's third quarter results beat estimates.

So what: Quarterly revenue rose 25.7% to $124.6 million, which translated to adjusted net income of $0.39 per share. By contrast, analysts were looking for adjusted earnings of just $0.34 per share on sales of $120.47 million.

As a result, Dealertrack also raised its full-year 2013 sales guidance and now expects revenue between $477 million and $480 million, up from its previous guidance for 2013 sales between $464 million and $468 million. However, it also maintained its previous earnings guidance for non-GAAP net income between $1.26 and $1.31 per share. Even so, that's still at the high end of analysts expectations, which called for full-year 2013 non-GAAP earnings of $1.30 per share.

Now what: Still, the stock's not exactly cheap trading at more than 28 times next year's estimates, so Dealertrack will need to make sure it also grows earnings at a decent clip going forward to continue justifying its valuation. I wouldn't be surprised if the recent rally still has some legs left, but investors would be wise to note that they're paying a premium for this stock today.

Fool contributor Steve Symington owns shares of Apple. The Motley Fool recommends and owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.