Treasurer of the State of North Carolina Has $2.51 Million Position in CDK Global Inc (NASDAQ:CDK)
Treasurer of the State of North Carolina cut its holdings in shares of CDK Global Inc (NASDAQ:CDK) by 2.6% during the second quarter, Holdings Channel reports. The fund owned 50,724 shares of the software maker’s stock after selling 1,360 shares during the quarter. Treasurer of the State of North Carolina’s holdings in CDK Global were worth $2,508,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of CDK. BlackRock Inc. grew its holdings in CDK Global by 9.6% in the 2nd quarter. BlackRock Inc. now owns 14,995,613 shares of the software maker’s stock valued at $741,383,000 after buying an additional 1,313,730 shares in the last quarter. Bank of America Corp DE grew its holdings in CDK Global by 19.7% in the 2nd quarter. Bank of America Corp DE now owns 2,033,222 shares of the software maker’s stock valued at $100,523,000 after buying an additional 335,048 shares in the last quarter. Clarkston Capital Partners LLC grew its holdings in CDK Global by 8.8% in the 2nd quarter. Clarkston Capital Partners LLC now owns 1,670,100 shares of the software maker’s stock valued at $82,570,000 after buying an additional 135,110 shares in the last quarter. LSV Asset Management grew its holdings in CDK Global by 673.9% in the 2nd quarter. LSV Asset Management now owns 1,263,000 shares of the software maker’s stock valued at $62,442,000 after buying an additional 1,099,800 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in CDK Global by 0.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,176,960 shares of the software maker’s stock valued at $57,094,000 after buying an additional 5,945 shares in the last quarter. 81.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of CDK traded up $0.34 during trading hours on Wednesday, hitting $45.31. 14,422 shares of the company were exchanged, compared to its average volume of 964,723. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 1.36 and a beta of 0.92. CDK Global Inc has a fifty-two week low of $41.50 and a fifty-two week high of $63.90. The firm’s fifty day moving average is $45.36 and its 200 day moving average is $50.86.
The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Friday, August 30th. CDK Global’s dividend payout ratio (DPR) is currently 19.11%.
In other news, General Counsel Lee J. Brunz sold 1,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $50.74, for a total transaction of $50,740.00. Following the sale, the general counsel now directly owns 37,927 shares of the company’s stock, valued at approximately $1,924,415.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 2,000 shares of company stock worth $95,440. 0.50% of the stock is currently owned by insiders.
A number of research analysts have commented on the company. Zacks Investment Research lowered CDK Global from a “hold” rating to a “strong sell” rating in a report on Monday, August 19th. BidaskClub raised CDK Global from a “sell” rating to a “hold” rating in a report on Friday, September 13th. Barrington Research reaffirmed a “buy” rating and issued a $65.00 price objective on shares of CDK Global in a report on Monday, August 19th. Finally, ValuEngine raised CDK Global from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. CDK Global presently has an average rating of “Hold” and an average target price of $64.00.
About CDK Global
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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