Regentatlantic Capital LLC raised its stake in CDK Global, Inc. (NASDAQ:CDK) by 3.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,806 shares of the software maker’s stock after buying an additional 133 shares during the period. Regentatlantic Capital LLC’s holdings in CDK Global were worth $236,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of CDK. BlackRock Inc. boosted its position in shares of CDK Global by 5,907.6% in the first quarter. BlackRock Inc. now owns 13,196,582 shares of the software maker’s stock valued at $857,910,000 after buying an additional 12,976,917 shares in the last quarter. Findlay Park Partners LLP purchased a new position in CDK Global during the first quarter valued at $50,383,000. AQR Capital Management LLC boosted its position in CDK Global by 191.3% in the first quarter. AQR Capital Management LLC now owns 1,065,874 shares of the software maker’s stock valued at $69,292,000 after buying an additional 699,914 shares in the last quarter. Morgan Stanley boosted its position in CDK Global by 82.9% in the first quarter. Morgan Stanley now owns 1,383,037 shares of the software maker’s stock valued at $89,913,000 after buying an additional 627,062 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in CDK Global by 175.8% in the first quarter. Wells Fargo & Company MN now owns 787,979 shares of the software maker’s stock valued at $51,226,000 after buying an additional 502,276 shares in the last quarter. 83.30% of the stock is owned by institutional investors.
CDK Global, Inc. (NASDAQ CDK) traded up 0.23% during midday trading on Friday, hitting $61.29. The stock had a trading volume of 578,843 shares. CDK Global, Inc. has a 52 week low of $53.46 and a 52 week high of $67.49. The stock has a market cap of $8.59 billion, a P/E ratio of 30.80 and a beta of 0.74. The company has a 50-day moving average price of $63.27 and a 200-day moving average price of $63.71.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.01. The company had revenue of $565.40 million during the quarter, compared to the consensus estimate of $556.68 million. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 EPS. Equities analysts expect that CDK Global, Inc. will post $2.95 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 11th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.56 annualized dividend and a dividend yield of 0.91%. CDK Global’s payout ratio is 28.00%.
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Several equities analysts recently weighed in on CDK shares. Zacks Investment Research cut shares of CDK Global from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. TheStreet raised shares of CDK Global from a “d+” rating to a “c” rating in a research note on Monday, May 8th. Wells Fargo & Company raised shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Wednesday, June 21st. Evercore ISI raised CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Monday, July 10th. Finally, BidaskClub raised CDK Global from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $71.75.
In other news, insider Brian P. Macdonald purchased 5,000 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was bought at an average price of $60.47 per share, for a total transaction of $302,350.00. Following the purchase, the insider now owns 96,877 shares of the company’s stock, valued at $5,858,152.19. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by corporate insiders.
CDK Global Company 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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