Financial Architects Inc lowered its position in CDK Global, Inc. (NASDAQ:CDK) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,026 shares of the software maker’s stock after selling 22 shares during the period. Financial Architects Inc’s holdings in CDK Global were worth $250,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of CDK. Russell Investments Group Ltd. purchased a new stake in CDK Global during the fourth quarter worth approximately $1,206,000. Dimensional Fund Advisors LP boosted its stake in CDK Global by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 365,884 shares of the software maker’s stock worth $21,842,000 after buying an additional 25,969 shares during the period. Quadrature Capital Ltd bought a new position in shares of CDK Global during the fourth quarter valued at about $214,000. Whalerock Point Partners LLC boosted its position in shares of CDK Global by 1.5% in the fourth quarter. Whalerock Point Partners LLC now owns 7,608 shares of the software maker’s stock valued at $454,000 after buying an additional 116 shares during the period. Finally, Teachers Advisors LLC boosted its position in shares of CDK Global by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 399,899 shares of the software maker’s stock valued at $23,870,000 after buying an additional 10,582 shares during the period. Institutional investors and hedge funds own 83.30% of the company’s stock.
Shares of CDK Global, Inc. (NASDAQ CDK) opened at 61.29 on Friday. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 30.80 and a beta of 0.74. The company has a 50-day moving average price of $63.22 and a 200-day moving average price of $63.72. CDK Global, Inc. has a 1-year low of $53.46 and a 1-year high of $67.49.
CDK Global (NASDAQ:CDK) last issued its earnings results on Tuesday, August 1st. The software maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The business had revenue of $565.40 million for the quarter, compared to analyst estimates of $556.68 million. During the same period in the previous year, the business earned $0.49 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts expect that CDK Global, Inc. will post $2.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 11th will be given 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 dividend payout ratio (DPR) is currently 28.00%.
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CDK has been the topic of several recent research reports. Zacks Investment Research cut CDK Global from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. TheStreet upgraded CDK Global from a “d+” rating to a “c” rating in a research report on Monday, May 8th. Wells Fargo & Company raised CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock 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 on the stock in a research note on Monday, July 10th. Finally, BidaskClub raised CDK Global from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $71.75.
In other CDK Global news, insider Brian P. Macdonald bought 5,000 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were acquired at an average cost of $60.47 per share, for a total transaction of $302,350.00. Following the transaction, the insider now owns 96,877 shares in the company, valued at $5,858,152.19. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by insiders.
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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