Sei Investments Co. Acquires 1,174 Shares of CDK Global, Inc. (CDK)
Sei Investments Co. raised its holdings in shares of CDK Global, Inc. (NASDAQ:CDK) by 11.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,413 shares of the software maker’s stock after purchasing an additional 1,174 shares during the period. Sei Investments Co.’s holdings in CDK Global were worth $719,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in CDK. Koch Industries Inc. increased its stake in 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 purchasing an additional 1,127,774 shares during the last quarter. Junto Capital Management LP bought a new stake in CDK Global during the second quarter valued at $45,226,000. Arrowstreet Capital Limited Partnership boosted 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. boosted 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 boosted 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. Hedge funds and other institutional investors own 86.76% of the company’s stock.
Several equities analysts have recently issued reports on the stock. BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Barrington Research set a $75.00 price target on shares of CDK Global and gave the company a “buy” rating in a report on Tuesday, October 31st. TheStreet raised shares of CDK Global from a “c+” rating to a “b-” rating in a report on Thursday, October 19th. Finally, Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Tuesday, October 3rd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $72.60.
CDK Global, Inc. (CDK) opened at $70.73 on Friday. CDK Global, Inc. has a 1-year low of $58.43 and a 1-year high of $71.31. The stock has a market cap of $9,620.78, a price-to-earnings ratio of 27.76, a PEG ratio of 1.57 and a beta of 0.75. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 297.80.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.68 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.68. The company had revenue of $565.70 million during the quarter, compared to the consensus estimate 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 for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. sell-side analysts expect that CDK Global, Inc. will post 2.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.60 annualized dividend and a yield of 0.85%. This is an increase from CDK Global’s previous quarterly dividend of $0.14. CDK Global’s dividend payout ratio is presently 29.13%.
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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.
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