California State Teachers Retirement System Decreases Holdings in CDK Global, Inc. (CDK)

California State Teachers Retirement System cut its stake in shares of CDK Global, Inc. (NASDAQ:CDK) by 20.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 245,180 shares of the software maker’s stock after selling 63,661 shares during the period. California State Teachers Retirement System owned about 0.17% of CDK Global worth $15,216,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CDK. BlackRock Inc. increased its stake in shares of CDK Global by 5,907.6% in the 1st quarter. BlackRock Inc. now owns 13,196,582 shares of the software maker’s stock worth $857,910,000 after purchasing an additional 12,976,917 shares in the last quarter. Commerce Bank increased its stake in shares of CDK Global by 47.0% in the 2nd quarter. Commerce Bank now owns 33,552 shares of the software maker’s stock worth $2,082,000 after purchasing an additional 10,731 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of CDK Global by 12.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 661,036 shares of the software maker’s stock worth $41,024,000 after purchasing an additional 74,017 shares in the last quarter. HWG Holdings LP purchased a new stake in shares of CDK Global in the 1st quarter worth $1,438,000. Finally, Swiss National Bank increased its stake in shares of CDK Global by 5.7% in the 2nd quarter. Swiss National Bank now owns 476,000 shares of the software maker’s stock worth $29,541,000 after purchasing an additional 25,600 shares in the last quarter. Institutional investors and hedge funds own 85.24% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “California State Teachers Retirement System Decreases Holdings in CDK Global, Inc. (CDK)” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The original version of this news story can be accessed at https://ledgergazette.com/2017/10/19/california-state-teachers-retirement-system-decreases-holdings-in-cdk-global-inc-cdk.html.

Several equities research analysts have recently commented on the company. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Tuesday, October 3rd. TheStreet downgraded shares of CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. 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. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $72.00.

CDK Global, Inc. (NASDAQ:CDK) opened at 65.29 on Thursday. CDK Global, Inc. has a 12-month low of $53.46 and a 12-month high of $67.49. The company has a market cap of $9.15 billion, a P/E ratio of 32.81 and a beta of 0.73. The firm’s 50 day moving average is $63.41 and its 200 day moving average is $63.02.

CDK Global (NASDAQ:CDK) last released its earnings results on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $565.40 million during the quarter, compared to analysts’ expectations of $556.68 million. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 earnings per share. Equities research analysts anticipate that CDK Global, Inc. will post $2.95 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 11th were paid a divid

A number of other institutional investors and hedge funds also recently made changes to their positions in CDK. BlackRock Inc. increased its stake in shares of CDK Global by 5,907.6% in the 1st quarter. BlackRock Inc. now owns 13,196,582 shares of the software maker’s stock worth $857,910,000 after purchasing an additional 12,976,917 shares in the last quarter. Commerce Bank increased its stake in shares of CDK Global by 47.0% in the 2nd quarter. Commerce Bank now owns 33,552 shares of the software maker’s stock worth $2,082,000 after purchasing an additional 10,731 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of CDK Global by 12.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 661,036 shares of the software maker’s stock worth $41,024,000 after purchasing an additional 74,017 shares in the last quarter. HWG Holdings LP purchased a new stake in shares of CDK Global in the 1st quarter worth $1,438,000. Finally, Swiss National Bank increased its stake in shares of CDK Global by 5.7% in the 2nd quarter. Swiss National Bank now owns 476,000 shares of the software maker’s stock worth $29,541,000 after purchasing an additional 25,600 shares in the last quarter. Institutional investors and hedge funds own 85.24% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “California State Teachers Retirement System Decreases Holdings in CDK Global, Inc. (CDK)” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The original version of this news story can be accessed at https://ledgergazette.com/2017/10/19/california-state-teachers-retirement-system-decreases-holdings-in-cdk-global-inc-cdk.html.

Several equities research analysts have recently commented on the company. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Tuesday, October 3rd. TheStreet downgraded shares of CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. 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. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $72.00.

CDK Global, Inc. (NASDAQ:CDK) opened at 65.29 on Thursday. CDK Global, Inc. has a 12-month low of $53.46 and a 12-month high of $67.49. The company has a market cap of $9.15 billion, a P/E ratio of 32.81 and a beta of 0.73. The firm’s 50 day moving average is $63.41 and its 200 day moving average is $63.02.

CDK Global (NASDAQ:CDK) last released its earnings results on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $565.40 million during the quarter, compared to analysts’ expectations of $556.68 million. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 earnings per share. Equities research analysts anticipate that CDK Global, Inc. will post $2.95 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 11th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.86%. CDK Global’s dividend payout ratio is currently 28.00%.

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.

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

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