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Old Mutual Global Investors UK Ltd. Trims Holdings in CDK Global Inc (CDK)

Old Mutual Global Investors UK Ltd. lessened its position in CDK Global Inc (NASDAQ:CDK) by 68.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 128,386 shares of the software maker’s stock after selling 284,941 shares during the period. Old Mutual Global Investors UK Ltd. owned approximately 0.10% of CDK Global worth $9,151,000 as of its most recent filing with the SEC.

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A number of other institutional investors have also recently made changes to their positions in the business. Macquarie Group Ltd. purchased a new position in shares of CDK Global during the third quarter valued at approximately $145,000. Bredin Investment LLC purchased a new position in shares of CDK Global during the fourth quarter valued at approximately $203,000. BB&T Corp purchased a new position in shares of CDK Global during the fourth quarter valued at approximately $208,000. Retirement Income Solutions Inc purchased a new position in shares of CDK Global during the fourth quarter valued at approximately $209,000. Finally, Atlas Brown Inc. purchased a new position in shares of CDK Global during the fourth quarter valued at approximately $214,000. 89.62% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently issued reports on the company. Barrington Research cut CDK Global from an “outperform” rating to a “market perform” rating and set a $75.00 target price on the stock. in a research report on Wednesday, January 17th. They noted that the move was a valuation call. BidaskClub lowered CDK Global from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Morgan Stanley lifted their price target on CDK Global from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Wells Fargo & Co reiterated an “outperform” rating and set a $80.00 price target (up from $75.00) on shares of CDK Global in a report on Wednesday, January 31st. Finally, Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. CDK Global has an average rating of “Hold” and a consensus target price of $76.80.

Shares of CDK Global Inc (NASDAQ CDK) opened at $71.62 on Thursday. The company has a market capitalization of $9,528.09, a price-to-earnings ratio of 31.69, a P/E/G ratio of 1.45 and a beta of 0.67. CDK Global Inc has a fifty-two week low of $59.33 and a fifty-two week high of $76.04. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of -11.19.

CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.17. The business had revenue of $561.70 million for the quarter, compared to analyst estimates of $564.94 million. CDK Global had a negative return on equity of 5,261.95% and a net margin of 14.29%. CDK Global’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.55 earnings per share. analysts anticipate that CDK Global Inc will post 3.26 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 1st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.84%. CDK Global’s dividend payout ratio (DPR) is currently 26.55%.

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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.