CDK Global, Inc. (CDK) Stake Lifted by Dynamic Technology Lab Private Ltd
Dynamic Technology Lab Private Ltd increased its holdings in shares of CDK Global, Inc. (NASDAQ:CDK) by 54.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,704 shares of the software maker’s stock after buying an additional 5,192 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in CDK Global were worth $913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in CDK. Alpha Windward LLC lifted its holdings in CDK Global by 2.3% in the 2nd quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock valued at $100,000 after purchasing an additional 36 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in CDK Global by 5.6% in the 2nd quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock valued at $194,000 after purchasing an additional 167 shares in the last quarter. Pinnacle Financial Partners Inc. purchased a new position in CDK Global in the 2nd quarter valued at $198,000. North American Management Corp lifted its holdings in CDK Global by 6.3% in the 2nd quarter. North American Management Corp now owns 3,342 shares of the software maker’s stock valued at $207,000 after purchasing an additional 199 shares in the last quarter. Finally, RiverPoint Capital Management LLC purchased a new position in CDK Global in the 1st quarter valued at $221,000. Hedge funds and other institutional investors own 85.24% of the company’s stock.
A number of brokerages have weighed in on CDK. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Tuesday, October 3rd. Wells Fargo & Company upgraded CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Wednesday, June 21st. TheStreet lowered CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. Finally, Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Monday, July 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. CDK Global has a consensus rating of “Buy” and a consensus price target of $72.00.
Shares of CDK Global, Inc. (CDK) traded down 0.18% during mid-day trading on Monday, hitting $64.79. The company’s stock had a trading volume of 115,566 shares. The company has a market cap of $9.08 billion, a PE ratio of 32.56 and a beta of 0.73. CDK Global, Inc. has a 12-month low of $53.46 and a 12-month high of $67.49. The stock has a 50-day moving average of $63.24 and a 200-day moving average of $63.00.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 earnings per share (EPS) 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 the consensus estimate of $556.68 million. During the same period in the prior year, the business earned $0.49 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. On average, equities research analysts forecast that CDK Global, Inc. will post $2.95 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 11th were given a $0.14 dividend. The ex-dividend date was Friday, September 8th. This represents a $0.56 annualized dividend and a dividend yield of 0.86%. CDK Global’s dividend payout ratio is currently 28.00%.
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.
Receive News & Stock Ratings for CDK Global Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global Inc. and related stocks with our FREE daily email newsletter.