Engineers Gate Manager LP grew its holdings in CDK Global Inc (NASDAQ:CDK) by 14.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,805 shares of the software maker’s stock after purchasing an additional 5,342 shares during the quarter. Engineers Gate Manager LP’s holdings in CDK Global were worth $2,615,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in CDK. Qube Research & Technologies Ltd acquired a new stake in CDK Global during the second quarter worth approximately $109,000. Fort L.P. acquired a new stake in CDK Global during the second quarter worth approximately $121,000. Legacy Financial Advisors Inc. boosted its position in CDK Global by 91.0% during the second quarter. Legacy Financial Advisors Inc. now owns 1,899 shares of the software maker’s stock worth $128,000 after acquiring an additional 905 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in CDK Global during the second quarter worth approximately $170,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in CDK Global during the third quarter worth approximately $179,000. Institutional investors and hedge funds own 82.16% of the company’s stock.
In other news, VP Jennifer A. Williams sold 4,114 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $61.65, for a total value of $253,628.10. Following the transaction, the vice president now owns 5,012 shares of the company’s stock, valued at approximately $308,989.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.
Shares of CDK opened at $57.80 on Tuesday. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 1.55 and a beta of 0.76. CDK Global Inc has a fifty-two week low of $55.75 and a fifty-two week high of $76.04.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, August 14th. The software maker reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.07. CDK Global had a net margin of 16.75% and a negative return on equity of 235.59%. The company had revenue of $569.20 million for the quarter, compared to analyst estimates of $578.99 million. During the same quarter last year, the business earned $0.55 EPS. CDK Global’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts expect that CDK Global Inc will post 3.72 earnings per share for the current year.
A number of equities analysts have weighed in on CDK shares. Barrington Research set a $80.00 price target on shares of CDK Global and gave the company a “buy” rating in a report on Monday. Morgan Stanley decreased their price target on shares of CDK Global from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 15th. ValuEngine upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a report on Thursday, September 13th. BidaskClub upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Finally, Zacks Investment Research upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. CDK Global currently has a consensus rating of “Hold” and an average price target of $75.00.
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About CDK Global
CDK Global, Inc provides software and technology solutions for automotive retailers in the United States and internationally. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. The company offers Dealer Management System (DMS), a portfolio of layered software applications and services for automotive retailers, original equipment manufacturers (OEMs), consumers, and other industry participants manage the acquisition, sale, financing, insuring, parts supply, and repair and maintenance of vehicles.
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