CDK Global, Inc. (CDK) Shares Sold by First Trust Advisors LP
First Trust Advisors LP decreased its stake in shares of CDK Global, Inc. (NASDAQ:CDK) by 64.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,966 shares of the software maker’s stock after selling 233,988 shares during the period. First Trust Advisors LP owned approximately 0.09% of CDK Global worth $8,136,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in CDK. Alps Advisors Inc. grew its stake in shares of CDK Global by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 7,214 shares of the software maker’s stock worth $448,000 after purchasing an additional 19 shares during the last quarter. Alpha Windward LLC grew its stake in shares of CDK Global by 2.3% in the 2nd quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock worth $100,000 after purchasing an additional 36 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its stake in shares of CDK Global by 0.5% in 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 during the last quarter. Commonwealth Bank of Australia grew its stake in shares of CDK Global by 0.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 13,600 shares of the software maker’s stock worth $844,000 after purchasing an additional 100 shares during the last quarter. Finally, World Asset Management Inc increased its position in shares of CDK Global by 1.0% in the second quarter. World Asset Management Inc now owns 10,385 shares of the software maker’s stock worth $644,000 after acquiring an additional 105 shares in the last quarter. 83.96% of the stock is currently owned by hedge funds and other institutional investors.
CDK has been the topic of several analyst reports. Zacks Investment Research raised shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Barrington Research set a $75.00 target price on shares of CDK Global and gave the stock a “buy” rating in a research report on Tuesday, October 31st. BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, TheStreet downgraded shares of CDK Global from a “c” rating to a “d+” rating in a research report on Tuesday, August 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $72.60.
Shares of CDK Global, Inc. (CDK) opened at $63.40 on Monday. The company has a debt-to-equity ratio of 297.80, a current ratio of 2.37 and a quick ratio of 2.37. The stock has a market cap of $8,719.91, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 1.43 and a beta of 0.72. CDK Global, Inc. has a one year low of $54.56 and a one year high of $67.49.
CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, October 31st. The software maker reported $0.68 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.68. The firm had revenue of $565.70 million during the quarter, compared to analysts’ expectations of $569.28 million. CDK Global had a net margin of 13.42% and a return on equity of 515.77%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. equities research analysts predict that CDK Global, Inc. will post 2.96 EPS for the current fiscal year.
In other news, VP Jennifer A. Williams sold 1,984 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $62.58, for a total value of $124,158.72. Following the completion of the sale, the vice president now directly owns 5,560 shares in the company, valued at $347,944.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is owned by insiders.
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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