Earnest Partners LLC cut its stake in shares of CDK Global Inc (NASDAQ:CDK) by 9.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,389 shares of the software maker’s stock after selling 2,118 shares during the quarter. Earnest Partners LLC’s holdings in CDK Global were worth $1,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CDK. Frontier Capital Management Co. LLC boosted its stake in shares of CDK Global by 11.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,579,837 shares of the software maker’s stock worth $112,611,000 after buying an additional 167,520 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of CDK Global by 1.8% in the third quarter. Prudential Financial Inc. now owns 1,005,135 shares of the software maker’s stock valued at $63,414,000 after acquiring an additional 17,596 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of CDK Global by 50.5% in the fourth quarter. Two Sigma Advisers LP now owns 862,600 shares of the software maker’s stock valued at $61,486,000 after acquiring an additional 289,400 shares in the last quarter. Legal & General Group Plc lifted its position in shares of CDK Global by 0.4% in the third quarter. Legal & General Group Plc now owns 705,717 shares of the software maker’s stock valued at $44,524,000 after acquiring an additional 2,501 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of CDK Global by 7.2% in the fourth quarter. Two Sigma Investments LP now owns 610,688 shares of the software maker’s stock worth $43,530,000 after purchasing an additional 41,261 shares during the last quarter. Institutional investors and hedge funds own 85.62% of the company’s stock.
In other CDK Global news, insider Rajiv K. Amar sold 1,968 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $69.85, for a total transaction of $137,464.80. Following the transaction, the insider now directly owns 11,072 shares in the company, valued at $773,379.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott L. Mathews sold 5,514 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $68.91, for a total transaction of $379,969.74. Following the completion of the sale, the executive vice president now directly owns 48,520 shares in the company, valued at approximately $3,343,513.20. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.
Shares of CDK Global Inc (CDK) opened at $65.27 on Friday. 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 1-year low of $59.33 and a 1-year high of $76.04. The firm has a market cap of $9,000.62, a P/E ratio of 28.88, a P/E/G ratio of 1.37 and a beta of 0.70.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.17. The company had revenue of $561.70 million during the quarter, compared to analysts’ expectations of $564.94 million. CDK Global had a net margin of 14.29% and a negative return on equity of 5,261.95%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.55 EPS. equities analysts expect that CDK Global Inc will post 3.26 earnings per share for the current fiscal year.
The business also recently declared 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. 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 0.92%. CDK Global’s dividend payout ratio (DPR) is presently 26.55%.
A number of research firms have recently commented on CDK. BidaskClub cut CDK Global from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Barrington Research downgraded CDK Global from an “outperform” rating to a “market perform” rating and set a $75.00 price target on the stock. in a research report on Wednesday, January 17th. They noted that the move was a valuation call. Wells Fargo reaffirmed an “outperform” rating and set a $80.00 price target (up from $75.00) on shares of CDK Global in a research report on Wednesday, January 31st. Morgan Stanley increased their target price on shares of CDK Global from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Finally, Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $76.80.
CDK Global 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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