Maven Securities LTD Raises Stake in CDK Global Inc (CDK)

Maven Securities LTD lifted its position in CDK Global Inc (NASDAQ:CDK) by 37.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,926 shares of the software maker’s stock after acquiring an additional 1,600 shares during the period. Maven Securities LTD’s holdings in CDK Global were worth $283,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Bruderman Asset Management LLC raised its stake in CDK Global by 722.7% in the fourth quarter. Bruderman Asset Management LLC now owns 543 shares of the software maker’s stock valued at $26,000 after purchasing an additional 477 shares in the last quarter. CX Institutional acquired a new position in CDK Global in the fourth quarter valued at about $27,000. Essex Investment Management Co. LLC acquired a new position in CDK Global in the fourth quarter valued at about $30,000. Laurel Wealth Advisors LLC acquired a new position in CDK Global in the fourth quarter valued at about $32,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in CDK Global by 24.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,442 shares of the software maker’s stock valued at $69,000 after purchasing an additional 282 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

In other news, insider Neil Packham purchased 588 shares of CDK Global stock in a transaction dated Friday, December 14th. The shares were bought at an average cost of $47.76 per share, for a total transaction of $28,082.88. Following the completion of the acquisition, the insider now owns 588 shares in the company, valued at approximately $28,082.88. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.50% of the company’s stock.

CDK has been the topic of a number of recent analyst reports. TheStreet cut CDK Global from a “b-” rating to a “c+” rating in a research report on Wednesday, November 14th. BidaskClub upgraded CDK Global from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research upgraded CDK Global from a “sell” rating to a “hold” rating in a research report on Friday, January 11th. Finally, Oppenheimer set a $67.00 target price on CDK Global and gave the company a “buy” rating in a research report on Tuesday, February 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $67.25.

CDK Global stock traded down $0.20 during midday trading on Thursday, reaching $57.43. The company’s stock had a trading volume of 68,933 shares, compared to its average volume of 933,483. The stock has a market cap of $7.23 billion, a PE ratio of 18.89 and a beta of 0.72. CDK Global Inc has a 52 week low of $44.01 and a 52 week high of $70.99.

CDK Global (NASDAQ:CDK) last released its quarterly earnings results on Tuesday, February 5th. The software maker reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.12. The company had revenue of $590.40 million for the quarter, compared to analysts’ expectations of $578.91 million. CDK Global had a negative return on equity of 135.00% and a net margin of 16.36%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 earnings per share. Research analysts forecast that CDK Global Inc will post 3.64 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, February 28th. CDK Global’s dividend payout ratio (DPR) is currently 19.74%.

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CDK Global 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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