CDK Global, Inc. (CDK) Position Maintained by Iat Reinsurance Co. LTD.
Iat Reinsurance Co. LTD. maintained its stake in shares of CDK Global, Inc. (NASDAQ:CDK) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,997 shares of the software maker’s stock at the end of the second quarter. CDK Global comprises 0.6% of Iat Reinsurance Co. LTD.’s holdings, making the stock its 27th largest position. Iat Reinsurance Co. LTD.’s holdings in CDK Global were worth $3,661,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of CDK Global by 5,907.6% in the first quarter. BlackRock Inc. now owns 13,196,582 shares of the software maker’s stock worth $857,910,000 after buying an additional 12,976,917 shares during the period. Findlay Park Partners LLP purchased a new stake in shares of CDK Global during the first quarter worth approximately $50,383,000. AQR Capital Management LLC increased its stake in shares of CDK Global by 191.3% in the first quarter. AQR Capital Management LLC now owns 1,065,874 shares of the software maker’s stock worth $69,292,000 after buying an additional 699,914 shares during the period. Morgan Stanley increased its stake in shares of CDK Global by 82.9% in the first quarter. Morgan Stanley now owns 1,383,037 shares of the software maker’s stock worth $89,913,000 after buying an additional 627,062 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of CDK Global by 175.8% in the first quarter. Wells Fargo & Company MN now owns 787,979 shares of the software maker’s stock worth $51,226,000 after buying an additional 502,276 shares during the period. Institutional investors and hedge funds own 81.37% of the company’s stock.
Shares of CDK Global, Inc. (NASDAQ CDK) traded down 0.17% during midday trading on Friday, hitting $62.82. 614,984 shares of the stock were exchanged. The stock’s 50-day moving average price is $63.29 and its 200 day moving average price is $63.68. CDK Global, Inc. has a one year low of $53.46 and a one year high of $67.49. The stock has a market cap of $8.80 billion, a P/E ratio of 31.57 and a beta of 0.74.
CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The business had revenue of $565.40 million for the quarter, compared to analysts’ expectations of $556.68 million. During the same quarter in the previous year, the business posted $0.49 EPS. CDK Global’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts anticipate that CDK Global, Inc. will post $2.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 11th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, September 8th. CDK Global’s dividend payout ratio (DPR) is presently 28.00%.
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A number of equities research analysts have recently commented on CDK shares. Zacks Investment Research downgraded shares of CDK Global from a “buy” rating to a “hold” rating in a report on Monday, May 8th. Evercore ISI upgraded shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Monday, July 10th. TheStreet downgraded shares of CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. BidaskClub upgraded shares of CDK Global from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Wells Fargo & Company upgraded shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Wednesday, June 21st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $71.75.
About CDK Global
CDK Global, Inc provides integrated information technology and digital marketing solutions. The Company’s segments include Retail Solutions North America, Advertising North America and CDK International. Through its Retail Solutions North America segment, the Company provides technology-based solutions, including automotive Website platforms, that help automotive retailers, original equipment manufacturers (OEMs) and other industry participants manage the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles.
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