Prudential Financial Inc. increased its position in CDK Global Inc (NASDAQ:CDK) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,005,135 shares of the software maker’s stock after purchasing an additional 17,596 shares during the quarter. Prudential Financial Inc. owned approximately 0.73% of CDK Global worth $63,414,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia grew its holdings in shares of CDK Global by 0.7% in the second quarter. Commonwealth Bank of Australia now owns 13,600 shares of the software maker’s stock worth $844,000 after acquiring an additional 100 shares during the period. D.A. Davidson & CO. grew its holdings in shares of CDK Global by 5.6% in the second quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock worth $194,000 after acquiring an additional 167 shares during the period. Associated Banc Corp grew its holdings in shares of CDK Global by 4.7% in the second quarter. Associated Banc Corp now owns 3,965 shares of the software maker’s stock worth $246,000 after acquiring an additional 179 shares during the period. Private Advisor Group LLC grew its holdings in shares of CDK Global by 4.0% in the second quarter. Private Advisor Group LLC now owns 5,865 shares of the software maker’s stock worth $366,000 after acquiring an additional 228 shares during the period. Finally, Zacks Investment Management grew its holdings in shares of CDK Global by 3.0% in the second quarter. Zacks Investment Management now owns 9,374 shares of the software maker’s stock worth $582,000 after acquiring an additional 276 shares during the period. Institutional investors own 87.50% of the company’s stock.
In related news, VP Jennifer A. Williams sold 1,984 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $62.58, for a total value of $124,158.72. Following the transaction, the vice president now owns 5,560 shares of the company’s stock, valued at $347,944.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.39% of the stock is owned by corporate insiders.
Shares of CDK Global Inc (CDK) opened at $75.77 on Friday. The stock has a market capitalization of $10,420.00, a P/E ratio of 36.78, a price-to-earnings-growth ratio of 1.66 and a beta of 0.78. CDK Global Inc has a 52-week low of $59.33 and a 52-week high of $75.83. The company has a debt-to-equity ratio of 297.80, a quick ratio of 2.37 and a current ratio of 2.37.
CDK Global (NASDAQ:CDK) last released its earnings results on Tuesday, October 31st. The software maker reported $0.68 EPS for the quarter, meeting analysts’ consensus estimates of $0.68. The firm had revenue of $565.70 million for the quarter, compared to analysts’ expectations of $569.28 million. CDK Global had a return on equity of 515.77% and a net margin of 13.42%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. equities research analysts predict that CDK Global Inc will post 2.97 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were paid a $0.15 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.60 annualized dividend and a yield of 0.79%. This is a boost from CDK Global’s previous quarterly dividend of $0.14. CDK Global’s dividend payout ratio is 29.13%.
Several analysts have issued reports on the company. BidaskClub raised CDK Global from a “hold” rating to a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research raised CDK Global from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Tuesday, October 3rd. TheStreet raised CDK Global from a “c+” rating to a “b-” rating in a research note on Thursday, October 19th. Finally, Barrington Research set a $75.00 price objective on 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 issued a buy rating to the stock. CDK Global currently has a consensus rating of “Buy” and an average price target of $72.60.
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CDK Global Company 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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