Geode Capital Management LLC Sells 133,970 Shares of CDK Global Inc (CDK)
Geode Capital Management LLC cut its holdings in CDK Global Inc (NASDAQ:CDK) by 11.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,070,192 shares of the software maker’s stock after selling 133,970 shares during the period. Geode Capital Management LLC’s holdings in CDK Global were worth $76,234,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CDK. Victory Capital Management Inc. raised its position in shares of CDK Global by 21.8% during the 3rd quarter. Victory Capital Management Inc. now owns 38,272 shares of the software maker’s stock valued at $2,415,000 after purchasing an additional 6,838 shares during the period. State of Wisconsin Investment Board raised its position in shares of CDK Global by 9.0% during the 3rd quarter. State of Wisconsin Investment Board now owns 112,623 shares of the software maker’s stock valued at $7,105,000 after purchasing an additional 9,341 shares during the period. State of Tennessee Treasury Department raised its position in shares of CDK Global by 16.7% during the 3rd quarter. State of Tennessee Treasury Department now owns 70,000 shares of the software maker’s stock valued at $4,416,000 after purchasing an additional 10,000 shares during the period. Candriam Luxembourg S.C.A. raised its position in shares of CDK Global by 66.3% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 17,560 shares of the software maker’s stock valued at $1,108,000 after purchasing an additional 7,000 shares during the period. Finally, Sei Investments Co. raised its position in shares of CDK Global by 11.5% during the 3rd quarter. Sei Investments Co. now owns 11,413 shares of the software maker’s stock valued at $719,000 after purchasing an additional 1,174 shares during the period. Institutional investors and hedge funds own 85.65% of the company’s stock.
In other CDK Global news, insider Rajiv K. Amar sold 1,968 shares of CDK Global stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $69.85, for a total value of $137,464.80. Following the completion of the transaction, the insider now directly owns 11,072 shares of the company’s stock, valued at approximately $773,379.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott L. Mathews sold 5,514 shares of CDK Global stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $68.91, for a total transaction of $379,969.74. Following the completion of the transaction, the executive vice president now directly owns 48,520 shares of the company’s stock, valued at $3,343,513.20. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.
CDK Global Inc (CDK) opened at $70.23 on Wednesday. The firm has a market cap of $9,525.40, a price-to-earnings ratio of 25.74, a P/E/G ratio of 1.45 and a beta of 0.70. CDK Global Inc has a 52 week low of $59.33 and a 52 week high of $76.04. The company has a debt-to-equity ratio of -11.19, a quick ratio of 1.97 and a current ratio of 1.97.
CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, January 30th. The software maker reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.17. The company had revenue of $561.70 million during the quarter, compared to analysts’ expectations of $564.94 million. CDK Global had a net margin of 14.29% and a negative return on equity of 5,261.95%. CDK Global’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $0.55 earnings per share. equities analysts predict that CDK Global Inc will post 3.26 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 1st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.85%. CDK Global’s payout ratio is 26.55%.
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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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