Tredje AP fonden reduced its stake in shares of CDK Global, Inc. (NASDAQ:CDK) by 31.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,060 shares of the software maker’s stock after selling 22,440 shares during the quarter. Tredje AP fonden’s holdings in CDK Global were worth $2,989,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. grew its holdings in shares of CDK Global by 3,091.3% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 459,105 shares of the software maker’s stock worth $28,492,000 after purchasing an additional 444,719 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of CDK Global by 7.3% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 26,817 shares of the software maker’s stock worth $1,488,000 after purchasing an additional 1,828 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in shares of CDK Global by 0.5% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 19,191 shares of the software maker’s stock worth $1,191,000 after purchasing an additional 100 shares in the last quarter. Delta Lloyd Asset Management N.V. acquired a new stake in shares of CDK Global during the 2nd quarter worth $823,000. Finally, Swiss National Bank grew its holdings in shares of CDK Global by 5.7% during the 2nd quarter. Swiss National Bank now owns 476,000 shares of the software maker’s stock worth $29,541,000 after purchasing an additional 25,600 shares in the last quarter. 85.06% of the stock is currently owned by institutional investors.

Several analysts recently weighed in on CDK shares. Zacks Investment Research downgraded CDK Global from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price objective for the company in a research report on Monday, July 10th. TheStreet downgraded CDK Global from a “c” rating to a “d+” rating in a research report on Tuesday, August 1st. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Wells Fargo & Company upgraded CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Wednesday, June 21st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. CDK Global presently has a consensus rating of “Buy” and an average target price of $71.75.

Shares of CDK Global, Inc. (CDK) opened at 62.46 on Friday. The company’s 50 day moving average price is $63.27 and its 200 day moving average price is $63.57. The company has a market capitalization of $8.75 billion, a P/E ratio of 31.39 and a beta of 0.75. CDK Global, Inc. has a 12 month low of $53.46 and a 12 month high of $67.49.

CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $556.68 million. During the same period in the previous year, the business earned $0.49 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. Analysts expect that CDK Global, Inc. will post $2.95 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 11th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, September 8th. CDK Global’s payout ratio is 28.00%.

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CDK Global Profile

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.

Institutional Ownership by Quarter for CDK Global (NASDAQ:CDK)

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