Retirement Income Solutions Inc acquired a new position in CDK Global Inc (NASDAQ:CDK) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,927 shares of the software maker’s stock, valued at approximately $209,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CDK. Macquarie Group Ltd. purchased a new stake in shares of CDK Global in the third quarter worth $145,000. Bredin Investment LLC purchased a new stake in shares of CDK Global in the fourth quarter worth $203,000. Atlas Brown Inc. purchased a new stake in shares of CDK Global in the fourth quarter worth $214,000. BB&T Corp purchased a new stake in shares of CDK Global in the fourth quarter worth $208,000. Finally, WASHINGTON TRUST Co purchased a new stake in shares of CDK Global in the fourth quarter worth $215,000. Institutional investors and hedge funds own 89.62% of the company’s stock.
CDK has been the topic of a number of recent research reports. Zacks Investment Research cut CDK Global from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Barrington Research set a $75.00 price objective on CDK Global and gave the company a “buy” rating in a research report on Tuesday, October 31st. BidaskClub cut CDK Global from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. Morgan Stanley increased their price objective on CDK Global from $76.00 to $77.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $80.00 price objective (up from $75.00) on shares of CDK Global in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $76.80.
CDK Global Inc (NASDAQ:CDK) traded up $0.81 during trading on Thursday, hitting $71.62. The company had a trading volume of 1,014,400 shares, compared to its average volume of 1,349,869. The company has a debt-to-equity ratio of -11.19, a current ratio of 1.97 and a quick ratio of 1.97. CDK Global Inc has a 12 month low of $59.33 and a 12 month high of $76.04. The stock has a market capitalization of $9,528.09, a PE ratio of 30.87, a PEG ratio of 1.45 and a beta of 0.67.
CDK Global (NASDAQ:CDK) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.17. The business had revenue of $561.70 million for the quarter, compared to analysts’ expectations of $564.94 million. CDK Global had a negative return on equity of 5,261.95% and a net margin of 14.29%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.55 earnings per share. research analysts anticipate that CDK Global Inc will post 3.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st will be given a $0.15 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.84%. CDK Global’s payout ratio is 26.55%.
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.
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