Bank of New York Mellon Corp Has $129.25 Million Holdings in CDK Global, Inc. (CDK)
Bank of New York Mellon Corp cut its stake in shares of CDK Global, Inc. (NASDAQ:CDK) by 6.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,048,647 shares of the software maker’s stock after selling 133,467 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.49% of CDK Global worth $129,250,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of CDK. Koch Industries Inc. lifted its holdings in shares of CDK Global by 13,261.7% during the second quarter. Koch Industries Inc. now owns 1,136,278 shares of the software maker’s stock valued at $1,118,000 after acquiring an additional 1,127,774 shares during the period. Junto Capital Management LP bought a new position in shares of CDK Global during the second quarter valued at $45,226,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of CDK Global by 82.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,290,870 shares of the software maker’s stock valued at $80,111,000 after acquiring an additional 584,720 shares during the period. BlackRock Inc. lifted its holdings in shares of CDK Global by 4.0% during the second quarter. BlackRock Inc. now owns 13,718,146 shares of the software maker’s stock valued at $851,347,000 after acquiring an additional 521,564 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of CDK Global by 186.8% during the second quarter. Renaissance Technologies LLC now owns 762,600 shares of the software maker’s stock valued at $47,327,000 after acquiring an additional 496,700 shares during the period. 83.67% of the stock is owned by institutional investors.
Shares of CDK Global, Inc. (NASDAQ:CDK) opened at $69.19 on Thursday. CDK Global, Inc. has a 12 month low of $56.50 and a 12 month high of $69.32. The firm has a market capitalization of $9,441.98, a price-to-earnings ratio of 27.24, a PEG ratio of 1.54 and a beta of 0.72. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 297.80.
CDK Global (NASDAQ:CDK) last announced its earnings results on Tuesday, October 31st. The software maker reported $0.68 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.68. CDK Global had a return on equity of 515.77% and a net margin of 13.42%. The company had revenue of $565.70 million during the quarter, compared to analyst estimates of $569.28 million. During the same period last year, the company posted $0.60 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. sell-side analysts predict that CDK Global, Inc. will post 2.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a $0.15 dividend. The ex-dividend date is Thursday, November 30th. This is a positive change from CDK Global’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.87%. CDK Global’s dividend payout ratio (DPR) is 27.18%.
In other news, VP Jennifer A. Williams sold 1,984 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was 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 SEC, which is accessible through this link. Company insiders own 0.39% of the company’s stock.
CDK has been the subject of a number of analyst reports. TheStreet cut CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research lowered CDK Global from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Finally, Barrington Research set a $75.00 target price on CDK Global and gave the company a “buy” rating in a research note on Tuesday, October 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. CDK Global has an average rating of “Buy” and a consensus price target of $72.60.
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.
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