CDK Global Inc (CDK) Position Increased by BlackRock Inc.

BlackRock Inc. increased its holdings in shares of CDK Global Inc (NASDAQ:CDK) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,017,687 shares of the software maker’s stock after buying an additional 643,215 shares during the quarter. BlackRock Inc. owned 0.11% of CDK Global worth $876,946,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. WealthTrust Fairport LLC bought a new position in CDK Global in the third quarter valued at about $104,000. Qube Research & Technologies Ltd bought a new position in CDK Global in the second quarter valued at about $109,000. Fort L.P. bought a new position in CDK Global in the second quarter valued at about $121,000. Itau Unibanco Holding S.A. bought a new position in CDK Global in the second quarter valued at about $170,000. Finally, Steward Partners Investment Advisory LLC bought a new position in CDK Global in the third quarter valued at about $179,000. Institutional investors and hedge funds own 84.07% of the company’s stock.

In other CDK Global news, General Counsel Lee J. Brunz bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The stock was acquired at an average price of $50.96 per share, with a total value of $127,400.00. Following the completion of the purchase, the general counsel now directly owns 39,427 shares of the company’s stock, valued at approximately $2,009,199.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joseph A. Tautges bought 7,900 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The shares were acquired at an average cost of $50.68 per share, with a total value of $400,372.00. Following the purchase, the chief financial officer now directly owns 25,594 shares of the company’s stock, valued at $1,297,103.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded CDK Global from a “hold” rating to a “sell” rating in a research report on Monday, August 20th. ValuEngine downgraded CDK Global from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Morgan Stanley lowered their price objective on CDK Global from $75.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 15th. Barrington Research restated a “buy” rating and set a $80.00 price objective on shares of CDK Global in a research report on Monday, August 13th. Finally, BidaskClub upgraded CDK Global from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $72.20.

Shares of CDK opened at $50.40 on Friday. CDK Global Inc has a 1 year low of $48.13 and a 1 year high of $76.04. The stock has a market cap of $6.46 billion, a PE ratio of 16.58, a P/E/G ratio of 1.40 and a beta of 0.76.

CDK Global (NASDAQ:CDK) last released its earnings results on Wednesday, November 7th. The software maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.83 by $0.06. CDK Global had a negative return on equity of 173.86% and a net margin of 17.23%. The business had revenue of $554.50 million during the quarter, compared to analysts’ expectations of $560.52 million. During the same quarter last year, the firm posted $0.68 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. On average, research analysts predict that CDK Global Inc will post 3.59 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Monday, December 3rd will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, November 30th. This represents a $0.60 annualized dividend and a yield of 1.19%. CDK Global’s dividend payout ratio is currently 19.74%.

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CDK Global Company Profile

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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Institutional Ownership by Quarter for CDK Global (NASDAQ:CDK)

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