Parametric Portfolio Associates LLC raised its holdings in CDK Global Inc (NASDAQ:CDK) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,843 shares of the software maker’s stock after buying an additional 6,634 shares during the period. Parametric Portfolio Associates LLC owned about 0.18% of CDK Global worth $15,826,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of CDK. Macquarie Group Ltd. purchased a new position in shares of CDK Global during the third quarter worth about $145,000. D.A. Davidson & CO. grew its holdings in shares of CDK Global by 5.6% during the second quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock worth $194,000 after buying an additional 167 shares during the last quarter. Associated Banc Corp grew its holdings in shares of CDK Global by 4.7% during the second quarter. Associated Banc Corp now owns 3,965 shares of the software maker’s stock worth $246,000 after buying an additional 179 shares during the last quarter. IFM Investors Pty Ltd purchased a new position in shares of CDK Global during the third quarter worth about $275,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of CDK Global during the third quarter worth about $321,000. Institutional investors own 87.50% of the company’s stock.
A number of brokerages have weighed in on CDK. Barrington Research set a $75.00 price objective on CDK Global and gave the company a “buy” rating in a report on Tuesday, October 31st. TheStreet raised CDK Global from a “c+” rating to a “b-” rating in a report on Thursday, October 19th. BidaskClub upgraded shares of CDK Global from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. Finally, Zacks Investment Research downgraded shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $72.60.
In other news, VP Jennifer A. Williams sold 1,984 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $62.58, for a total value of $124,158.72. Following the sale, the vice president now owns 5,560 shares in the company, valued at approximately $347,944.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.
Shares of CDK Global Inc (NASDAQ CDK) opened at $75.77 on Friday. 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 Inc has a 12 month low of $59.33 and a 12 month high of $75.83. The stock has a market cap of $10,420.00, a price-to-earnings ratio of 36.78, a PEG ratio of 1.66 and a beta of 0.78.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.68 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $569.28 million. During the same period in the prior year, the company earned $0.60 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. sell-side analysts predict that CDK Global Inc will post 2.97 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were issued a $0.15 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.79%. This is a positive change from CDK Global’s previous quarterly dividend of $0.14. CDK Global’s payout ratio is currently 29.13%.
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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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