Two Sigma Advisers LP raised its holdings in CDK Global Inc (NASDAQ:CDK) by 50.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 862,600 shares of the software maker’s stock after acquiring an additional 289,400 shares during the period. Two Sigma Advisers LP owned approximately 0.64% of CDK Global worth $61,486,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Ellington Management Group LLC bought a new position in shares of CDK Global during the 4th quarter valued at about $328,000. Stone Ridge Asset Management LLC bought a new position in shares of CDK Global during the 4th quarter valued at about $413,000. Caxton Associates LP bought a new position in shares of CDK Global during the 4th quarter valued at about $655,000. Advisor Group Inc. increased its position in shares of CDK Global by 21.4% during the 4th quarter. Advisor Group Inc. now owns 7,762 shares of the software maker’s stock valued at $553,000 after purchasing an additional 1,366 shares during the last quarter. Finally, JOYN Advisors Inc. bought a new position in shares of CDK Global during the 4th quarter valued at about $258,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.
CDK has been the topic of several recent research reports. Barrington Research reiterated a “hold” rating on shares of CDK Global in a research report on Monday, March 26th. BidaskClub lowered CDK Global from a “sell” rating to a “strong sell” rating in a research report on Wednesday, February 21st. Morgan Stanley raised their price target on CDK Global from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Wells Fargo restated an “outperform” rating and set a $80.00 price target (up from $75.00) on shares of CDK Global in a research report on Wednesday, January 31st. Finally, Zacks Investment Research lowered CDK Global from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $76.80.
CDK opened at $63.49 on Friday. The company has a debt-to-equity ratio of -11.19, a quick ratio of 1.97 and a current ratio of 1.97. CDK Global Inc has a 1 year low of $59.33 and a 1 year high of $76.04. The company has a market cap of $8,575.41, a P/E ratio of 26.13, a P/E/G ratio of 1.30 and a beta of 0.77.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results 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. The business had revenue of $561.70 million for 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 revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.55 EPS. research analysts forecast that CDK Global Inc will post 3.26 earnings per share 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. The ex-dividend date was Wednesday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.95%. CDK Global’s dividend payout ratio is currently 24.69%.
In other news, EVP Scott L. Mathews sold 5,514 shares of CDK Global stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $68.91, for a total value of $379,969.74. Following the sale, the executive vice president now directly owns 48,520 shares in the company, valued at approximately $3,343,513.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Rajiv K. Amar sold 1,968 shares of CDK Global stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $69.85, for a total value of $137,464.80. Following the completion of the sale, the insider now owns 11,072 shares in the company, valued at $773,379.20. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.
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CDK Global 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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