Regentatlantic Capital LLC increased its position in shares of CDK Global, Inc. (NASDAQ:CDK) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in the stock. Alpha Windward LLC raised its position in CDK Global by 2.3% in the second quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock worth $100,000 after buying an additional 36 shares during the period. TrimTabs Asset Management LLC raised its position in CDK Global by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 1,837 shares of the software maker’s stock worth $119,000 after buying an additional 864 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in CDK Global by 1.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,979 shares of the software maker’s stock worth $129,000 after buying an additional 23 shares during the period. Acrospire Investment Management LLC raised its position in CDK Global by 17.6% in the first quarter. Acrospire Investment Management LLC now owns 2,000 shares of the software maker’s stock worth $130,000 after buying an additional 300 shares during the period. Finally, Pinnacle Bank acquired a new position in CDK Global during the first quarter worth $137,000. 81.37% of the stock is owned by institutional investors and hedge funds.
Shares of CDK Global, Inc. (CDK) traded down 0.56% during mid-day trading on Friday, reaching $62.10. The company had a trading volume of 711,745 shares. CDK Global, Inc. has a 1-year low of $53.46 and a 1-year high of $67.49. The stock’s 50-day moving average price is $63.18 and its 200 day moving average price is $63.72. The company has a market capitalization of $8.70 billion, a PE ratio of 31.21 and a beta of 0.74.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 11th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, September 8th. CDK Global’s payout ratio is currently 28.00%.
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A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of CDK Global from a “buy” rating to a “hold” rating in a report on Friday, August 4th. TheStreet lowered shares of CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. Zacks Investment Research raised shares of CDK Global from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Evercore ISI raised shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Monday, July 10th. Finally, 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 report on Wednesday, June 21st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $71.75.
In related news, insider Brian P. Macdonald bought 5,000 shares of the company’s stock in a transaction on Friday, May 26th. The stock was bought at an average cost of $60.47 per share, for a total transaction of $302,350.00. Following the acquisition, the insider now directly owns 96,877 shares in the company, valued at $5,858,152.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is 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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