Globeflex Capital L P Acquires Shares of 8,600 CDK Global, Inc. (CDK)
Globeflex Capital L P acquired a new stake in shares of CDK Global, Inc. (NASDAQ:CDK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 8,600 shares of the software maker’s stock, valued at approximately $534,000.
A number of other large investors also recently made changes to their positions in CDK. Russell Investments Group Ltd. raised its stake in CDK Global by 4.0% during the first quarter. Russell Investments Group Ltd. now owns 20,693 shares of the software maker’s stock valued at $1,346,000 after buying an additional 796 shares during the last quarter. Suntrust Banks Inc. raised its stake in CDK Global by 0.8% during the first quarter. Suntrust Banks Inc. now owns 4,681 shares of the software maker’s stock valued at $302,000 after buying an additional 35 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in CDK Global by 51.3% during the first quarter. UBS Asset Management Americas Inc. now owns 502,020 shares of the software maker’s stock valued at $32,636,000 after buying an additional 170,196 shares during the last quarter. TD Asset Management Inc. raised its stake in CDK Global by 4.3% during the first quarter. TD Asset Management Inc. now owns 7,770 shares of the software maker’s stock valued at $505,000 after buying an additional 320 shares during the last quarter. Finally, Oxford Asset Management purchased a new position in CDK Global during the first quarter valued at $918,000. Institutional investors and hedge funds own 85.01% of the company’s stock.
A number of research analysts have issued reports on CDK shares. TheStreet cut CDK Global from a “c” rating to a “d+” rating in a research note on Tuesday, August 1st. 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 note on Monday, July 10th. BidaskClub cut CDK Global from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Zacks Investment Research upgraded CDK Global from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. 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 note on Wednesday, June 21st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. CDK Global presently has an average rating of “Hold” and an average price target of $71.75.
Shares of CDK Global, Inc. (NASDAQ:CDK) opened at 63.58 on Thursday. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 31.95 and a beta of 0.75. The firm has a 50 day moving average price of $62.40 and a 200-day moving average price of $63.27. CDK Global, Inc. has a 12-month low of $53.46 and a 12-month high of $67.49.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, beating the 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 firm had revenue of $565.40 million during the quarter, compared to analyst estimates of $556.68 million. During the same quarter in the prior year, the business posted $0.49 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts expect that CDK Global, Inc. will post $2.95 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.56 annualized dividend and a dividend yield of 0.88%. CDK Global’s dividend payout ratio is presently 28.00%.
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CDK Global Company 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.
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