Frontier Capital Management Co. LLC raised its holdings in CDK Global Inc (NASDAQ:CDK) by 11.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,579,837 shares of the software maker’s stock after acquiring an additional 167,520 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 1.15% of CDK Global worth $112,611,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in CDK. Riverhead Capital Management LLC increased its position in shares of CDK Global by 51.9% during the second quarter. Riverhead Capital Management LLC now owns 8,357 shares of the software maker’s stock worth $519,000 after buying an additional 2,857 shares during the period. Ameriprise Financial Inc. increased its position in shares of CDK Global by 3.2% during the second quarter. Ameriprise Financial Inc. now owns 444,623 shares of the software maker’s stock worth $27,545,000 after buying an additional 13,857 shares during the period. BlackRock Inc. increased its position in shares of CDK Global by 4.0% during the second quarter. BlackRock Inc. now owns 13,718,146 shares of the software maker’s stock worth $851,347,000 after buying an additional 521,564 shares during the period. Amalgamated Bank increased its position in shares of CDK Global by 46.2% during the second quarter. Amalgamated Bank now owns 16,490 shares of the software maker’s stock worth $1,023,000 after buying an additional 5,211 shares during the period. Finally, Stevens Capital Management LP increased its position in shares of CDK Global by 3.0% during the second quarter. Stevens Capital Management LP now owns 30,379 shares of the software maker’s stock worth $1,885,000 after buying an additional 883 shares during the period. Hedge funds and other institutional investors own 87.52% of the company’s stock.
In other CDK Global news, VP Jennifer A. Williams sold 1,984 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $62.58, for a total value of $124,158.72. Following the transaction, the vice president now directly owns 5,560 shares of the company’s stock, valued at $347,944.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is currently owned by company insiders.
A number of equities research analysts have commented on CDK shares. Zacks Investment Research upgraded shares of CDK Global from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Tuesday, October 3rd. BidaskClub upgraded shares of CDK Global from a “hold” rating to a “buy” rating in a report on Wednesday, October 11th. TheStreet upgraded shares of CDK Global from a “c+” rating to a “b-” rating in a report on Thursday, October 19th. Finally, Barrington Research set a $75.00 price target on shares of CDK Global and gave the stock a “buy” rating in a report on Tuesday, October 31st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $72.60.
CDK Global Inc (NASDAQ:CDK) traded down $0.75 during trading hours on Thursday, reaching $73.82. 1,120,000 shares of the company’s stock were exchanged, compared to its average volume of 1,503,591. The company has a debt-to-equity ratio of 297.80, a current ratio of 2.37 and a quick ratio of 2.37. The firm has a market capitalization of $10,150.00, a PE ratio of 35.83, a price-to-earnings-growth ratio of 1.67 and a beta of 0.78. CDK Global Inc has a 1-year low of $59.33 and a 1-year high of $76.04.
CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.68 earnings per share for the quarter, meeting 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 for the quarter, compared to analyst estimates of $569.28 million. During the same period last year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. research analysts forecast that CDK Global Inc will post 2.97 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Wednesday, February 28th. CDK Global’s dividend payout ratio (DPR) is 29.13%.
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About CDK Global
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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