Cubist Systematic Strategies LLC increased its position in shares of CDK Global, Inc. (NASDAQ:CDK) by 136.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,322 shares of the software maker’s stock after acquiring an additional 12,322 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in CDK Global were worth $1,345,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CDK. Koch Industries Inc. increased its stake in shares of CDK Global by 13,261.7% in the second quarter. Koch Industries Inc. now owns 1,136,278 shares of the software maker’s stock worth $1,118,000 after acquiring an additional 1,127,774 shares during the period. Junto Capital Management LP acquired a new stake in shares of CDK Global in the second quarter worth $45,226,000. Arrowstreet Capital Limited Partnership increased its stake in shares of CDK Global by 82.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,290,870 shares of the software maker’s stock worth $80,111,000 after acquiring an additional 584,720 shares during the period. BlackRock Inc. increased its stake in shares of CDK Global by 4.0% in the second quarter. BlackRock Inc. now owns 13,718,146 shares of the software maker’s stock worth $851,347,000 after acquiring an additional 521,564 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of CDK Global by 186.8% in the second quarter. Renaissance Technologies LLC now owns 762,600 shares of the software maker’s stock worth $47,327,000 after acquiring an additional 496,700 shares during the period. Hedge funds and other institutional investors own 87.49% of the company’s stock.
Shares of CDK Global, Inc. (CDK) opened at $70.76 on Monday. CDK Global, Inc. has a twelve month low of $58.52 and a twelve month high of $71.63. The stock has a market cap of $9,730.00, a price-to-earnings ratio of 28.08, a P/E/G ratio of 1.59 and a beta of 0.78. 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, hitting the Zacks’ consensus estimate of $0.68. CDK Global had a net margin of 13.42% and a return on equity of 515.77%. The firm had revenue of $565.70 million for the quarter, compared to the consensus estimate of $569.28 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. analysts anticipate that CDK Global, Inc. will post 2.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, November 30th. This is an increase from CDK Global’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 0.85%. CDK Global’s dividend payout ratio is 29.13%.
A number of analysts have recently weighed in on CDK shares. TheStreet upgraded shares of CDK Global from a “c+” rating to a “b-” rating in a research note on Thursday, October 19th. BidaskClub upgraded shares of CDK Global from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research upgraded shares of CDK Global from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Tuesday, October 3rd. Finally, Barrington Research set a $75.00 price objective on shares of CDK Global and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. CDK Global presently has an average rating of “Buy” and a consensus target price of $72.60.
In related news, VP Jennifer A. Williams sold 1,984 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $62.58, for a total transaction of $124,158.72. Following the sale, the vice president now directly owns 5,560 shares of the company’s stock, valued at $347,944.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.39% of the company’s stock.
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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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