LS Investment Advisors LLC reduced its position in CDK Global Inc (NASDAQ:CDK) by 6.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,430 shares of the software maker’s stock after selling 845 shares during the quarter. LS Investment Advisors LLC’s holdings in CDK Global were worth $815,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Macquarie Group Ltd. bought a new stake in shares of CDK Global in the 3rd quarter valued at about $145,000. Bredin Investment LLC bought a new position in CDK Global during the 4th quarter valued at approximately $203,000. BB&T Corp bought a new position in CDK Global during the 4th quarter valued at approximately $208,000. Retirement Income Solutions Inc bought a new position in CDK Global during the 4th quarter valued at approximately $209,000. Finally, Atlas Brown Inc. bought a new position in shares of CDK Global in the 4th quarter worth approximately $214,000. Hedge funds and other institutional investors own 87.85% of the company’s stock.
Shares of CDK Global Inc (CDK) traded up $0.53 on Thursday, reaching $69.59. The company’s stock had a trading volume of 900,400 shares, compared to its average volume of 1,354,049. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of -11.19. CDK Global Inc has a 1-year low of $59.33 and a 1-year high of $76.04. The stock has a market cap of $9,292.61, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 1.41 and a beta of 0.67.
CDK Global (NASDAQ:CDK) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.87 EPS for the quarter, beating the consensus estimate of $0.70 by $0.17. The business had revenue of $561.70 million for the quarter, compared to the consensus estimate of $564.94 million. CDK Global had a negative return on equity of 5,261.95% and a net margin of 14.29%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.55 EPS. equities analysts expect that CDK Global Inc will post 3.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 1st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.86%. CDK Global’s dividend payout ratio is currently 26.55%.
Several brokerages have recently issued reports on CDK. BidaskClub lowered CDK Global from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Barrington Research lowered CDK Global from an “outperform” rating to a “market perform” rating and set a $75.00 target price for the company. in a research report on Wednesday, January 17th. They noted that the move was a valuation call. Zacks Investment Research raised CDK Global from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Wednesday, January 31st. Wells Fargo & Co restated an “outperform” rating and issued a $80.00 price target (up previously from $75.00) on shares of CDK Global in a research note on Wednesday, January 31st. Finally, Morgan Stanley upped their price target on CDK Global from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $76.80.
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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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