Swiss National Bank trimmed its holdings in shares of CDK Global Inc (NASDAQ:CDK) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 466,300 shares of the software maker’s stock after selling 15,100 shares during the quarter. Swiss National Bank’s holdings in CDK Global were worth $33,238,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Frontier Capital Management Co. LLC increased its holdings in CDK Global by 11.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,579,837 shares of the software maker’s stock valued at $112,611,000 after buying an additional 167,520 shares during the last quarter. Prudential Financial Inc. increased its holdings in CDK Global by 1.8% in the third quarter. Prudential Financial Inc. now owns 1,005,135 shares of the software maker’s stock valued at $63,414,000 after buying an additional 17,596 shares during the last quarter. Legal & General Group Plc increased its holdings in CDK Global by 0.4% in the third quarter. Legal & General Group Plc now owns 705,717 shares of the software maker’s stock valued at $44,524,000 after buying an additional 2,501 shares during the last quarter. Toronto Dominion Bank increased its holdings in CDK Global by 0.8% in the third quarter. Toronto Dominion Bank now owns 505,519 shares of the software maker’s stock valued at $31,889,000 after buying an additional 3,916 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in CDK Global by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 431,736 shares of the software maker’s stock valued at $26,793,000 after buying an additional 28,232 shares during the last quarter. 89.62% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on the company. Wells Fargo & Co reissued an “outperform” rating and issued a $80.00 price objective (up from $75.00) on shares of CDK Global in a report on Wednesday, January 31st. Morgan Stanley boosted their price objective on CDK Global from $76.00 to $77.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. BidaskClub lowered CDK Global from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. 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. Finally, Zacks Investment Research raised CDK Global from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $76.80.
Shares of CDK Global Inc (CDK) opened at $70.25 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of -11.19. The firm has a market capitalization of $9,452.77, a PE ratio of 25.55, a P/E/G ratio of 1.44 and a beta of 0.67. CDK Global Inc has a fifty-two week low of $59.33 and a fifty-two week high of $76.04.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.17. The firm had revenue of $561.70 million during the quarter, compared to analyst estimates of $564.94 million. CDK Global had a negative return on equity of 5,261.95% and a net margin of 14.29%. CDK Global’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. equities analysts anticipate that CDK Global Inc will post 3.26 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 1st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Wednesday, February 28th. CDK Global’s dividend payout ratio (DPR) is presently 26.55%.
ILLEGAL ACTIVITY WARNING: “Swiss National Bank Has $33.24 Million Stake in CDK Global Inc (CDK)” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at https://www.dispatchtribunal.com/2018/02/18/swiss-national-bank-has-33-24-million-stake-in-cdk-global-inc-cdk.html.
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.
Want to see what other hedge funds are holding CDK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDK Global Inc (NASDAQ:CDK).
Receive News & Ratings for CDK Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global and related companies with MarketBeat.com's FREE daily email newsletter.