Victory Capital Management Inc. raised its stake in shares of CDK Global Inc (NASDAQ:CDK) by 12.6% in the 4th quarter, Holdings Channel reports. The fund owned 43,104 shares of the software maker’s stock after acquiring an additional 4,832 shares during the quarter. Victory Capital Management Inc.’s holdings in CDK Global were worth $3,072,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Ingalls & Snyder LLC acquired a new stake in shares of CDK Global during the fourth quarter worth $373,000. Pensionfund Sabic acquired a new stake in shares of CDK Global during the fourth quarter worth $1,568,000. Prudential Financial Inc. boosted its holdings in shares of CDK Global by 1.8% during the third quarter. Prudential Financial Inc. now owns 1,005,135 shares of the software maker’s stock worth $63,414,000 after purchasing an additional 17,596 shares during the last quarter. Aurora Investment Counsel acquired a new stake in shares of CDK Global during the fourth quarter worth $1,881,000. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of CDK Global by 11.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,579,837 shares of the software maker’s stock worth $112,611,000 after purchasing an additional 167,520 shares during the last quarter. 87.85% of the stock is owned by hedge funds and other institutional investors.
CDK Global Inc (NASDAQ CDK) opened at $70.25 on Monday. The company has a debt-to-equity ratio of -11.19, a current ratio of 1.97 and a quick ratio of 1.97. The firm has a market capitalization of $9,452.73, a price-to-earnings ratio of 25.55, a P/E/G ratio of 1.44 and a beta of 0.67. CDK Global Inc has a 52-week low of $59.33 and a 52-week high of $76.04.
CDK Global (NASDAQ:CDK) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.87 earnings per share 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 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%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $0.55 EPS. analysts predict 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. Investors of record on Thursday, March 1st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Wednesday, February 28th. CDK Global’s dividend payout ratio (DPR) is currently 26.55%.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Wednesday, January 31st. BidaskClub cut CDK Global from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Morgan Stanley raised their price objective 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 restated an “outperform” rating and set a $80.00 price objective (up previously from $75.00) on shares of CDK Global in a report on Wednesday, January 31st. Finally, Barrington Research lowered 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $76.80.
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.
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