CDK Global Inc (NASDAQ:CDK) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,944,220 shares, a growth of 27.6% from the February 15th total of 2,307,952 shares. Approximately 2.4% of the company’s shares are short sold. Based on an average daily trading volume, of 900,553 shares, the short-interest ratio is presently 3.3 days.

Institutional investors have recently bought and sold shares of the company. LSV Asset Management bought a new stake in shares of CDK Global during the fourth quarter valued at approximately $2,922,000. MetLife Investment Advisors LLC raised its stake in shares of CDK Global by 1.9% during the third quarter. MetLife Investment Advisors LLC now owns 79,248 shares of the software maker’s stock valued at $4,958,000 after acquiring an additional 1,496 shares in the last quarter. Cerebellum GP LLC raised its stake in shares of CDK Global by 85.6% during the fourth quarter. Cerebellum GP LLC now owns 5,438 shares of the software maker’s stock valued at $260,000 after acquiring an additional 2,508 shares in the last quarter. Arizona State Retirement System raised its stake in CDK Global by 7.7% in the fourth quarter. Arizona State Retirement System now owns 126,553 shares of the software maker’s stock worth $6,059,000 after buying an additional 9,075 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in CDK Global by 131.4% in the third quarter. Hsbc Holdings PLC now owns 145,392 shares of the software maker’s stock worth $9,095,000 after buying an additional 82,563 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

CDK has been the subject of several recent analyst reports. BidaskClub upgraded CDK Global from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research upgraded CDK Global from a “sell” rating to a “hold” rating in a research report on Friday, January 11th. Finally, Oppenheimer set a $67.00 target price on CDK Global and gave the company a “buy” rating in a research report on Tuesday, February 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $67.25.

Shares of NASDAQ:CDK opened at $58.02 on Friday. CDK Global has a 1 year low of $44.01 and a 1 year high of $70.99. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 19.09 and a beta of 0.72.

CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Tuesday, February 5th. The software maker reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.12. CDK Global had a net margin of 16.36% and a negative return on equity of 135.00%. The firm had revenue of $590.40 million during the quarter, compared to the consensus estimate of $578.91 million. During the same quarter in the previous year, the firm posted $0.87 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that CDK Global will post 3.64 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, February 28th. CDK Global’s dividend payout ratio is presently 19.74%.

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CDK Global Company Profile

CDK Global, Inc provides software and technology solutions for automotive retailers in the United States and internationally. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. The company offers Dealer Management System (DMS), a portfolio of layered software applications and services for automotive retailers, original equipment manufacturers (OEMs), consumers, and other industry participants manage the acquisition, sale, financing, insuring, parts supply, and repair and maintenance of vehicles.

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