HBK Investments L P increased its position in CDK Global Inc (NASDAQ:CDK) by 52.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,587 shares of the software maker’s stock after buying an additional 20,787 shares during the period. HBK Investments L P’s holdings in CDK Global were worth $4,319,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of CDK. Macquarie Group Ltd. acquired a new position in CDK Global during the third quarter worth approximately $145,000. Bredin Investment LLC acquired a new position in CDK Global during the fourth quarter worth approximately $203,000. Overbrook Management Corp acquired a new position in CDK Global during the fourth quarter worth approximately $203,000. BB&T Corp acquired a new position in CDK Global during the fourth quarter worth approximately $208,000. Finally, Retirement Income Solutions Inc acquired a new position in CDK Global during the fourth quarter worth approximately $209,000. 85.63% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on CDK shares. Barrington Research lowered shares of CDK Global from an “outperform” rating to a “market perform” rating and set a $75.00 price target for the company. in a research report on Wednesday, January 17th. They noted that the move was a valuation call. BidaskClub lowered shares of CDK Global from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. Wells Fargo reaffirmed an “outperform” rating and set a $80.00 price target (up previously from $75.00) on shares of CDK Global in a research report on Wednesday, January 31st. Morgan Stanley upped their price target on shares of CDK Global from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Finally, Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. CDK Global has an average rating of “Hold” and a consensus price target of $76.80.
Shares of CDK Global stock traded down $0.80 during trading hours on Friday, hitting $63.49. The company’s stock had a trading volume of 920,216 shares, compared to its average volume of 1,131,294. CDK Global Inc has a 1-year low of $59.33 and a 1-year high of $76.04. The firm has a market capitalization of $8,650.77, a P/E ratio of 26.13, a PEG ratio of 1.32 and a beta of 0.77. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of -11.19.
CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.17. CDK Global had a net margin of 14.29% and a negative return on equity of 5,261.95%. The company had revenue of $561.70 million during the quarter, compared to analyst estimates of $564.94 million. During the same quarter in the prior year, the business earned $0.55 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. research analysts expect that CDK Global Inc will post 3.26 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 1st were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Wednesday, February 28th. CDK Global’s payout ratio is currently 24.69%.
In other news, insider Rajiv K. Amar sold 1,968 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $69.85, for a total value of $137,464.80. Following the completion of the transaction, the insider now directly owns 11,072 shares in the company, valued at $773,379.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott L. Mathews sold 5,514 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $68.91, for a total transaction of $379,969.74. Following the completion of the transaction, the executive vice president now owns 48,520 shares of the company’s stock, valued at $3,343,513.20. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.
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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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