Guggenheim Capital LLC boosted its stake in shares of CDK Global Inc (NASDAQ:CDK) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,650 shares of the software maker’s stock after acquiring an additional 2,840 shares during the quarter. Guggenheim Capital LLC owned 0.09% of CDK Global worth $7,389,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in CDK Global by 2.9% during the fourth quarter. Wells Fargo & Company MN now owns 554,503 shares of the software maker’s stock valued at $39,524,000 after acquiring an additional 15,866 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in shares of CDK Global by 2.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 31,886 shares of the software maker’s stock valued at $2,273,000 after buying an additional 889 shares in the last quarter. Thames Capital Management LLC purchased a new stake in shares of CDK Global in the fourth quarter valued at approximately $4,804,000. Vident Investment Advisory LLC increased its position in shares of CDK Global by 31.5% in the fourth quarter. Vident Investment Advisory LLC now owns 7,376 shares of the software maker’s stock valued at $526,000 after buying an additional 1,769 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of CDK Global in the fourth quarter valued at approximately $677,000. Institutional investors own 84.08% of the company’s stock.
CDK Global opened at $65.05 on Friday, Marketbeat.com reports. The company has a market capitalization of $8.63 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 2.14 and a beta of 0.75. CDK Global Inc has a 12 month low of $60.28 and a 12 month high of $76.04. The company has a debt-to-equity ratio of -9.65, a current ratio of 1.80 and a quick ratio of 1.80.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Thursday, April 26th. The software maker reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. CDK Global had a negative return on equity of 361.64% and a net margin of 14.99%. The business had revenue of $576.60 million during the quarter, compared to analysts’ expectations of $578.11 million. During the same period in the previous year, the business earned $0.65 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. equities analysts predict that CDK Global Inc will post 3.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 29th. Investors of record on Tuesday, June 19th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Monday, June 18th. CDK Global’s payout ratio is 24.69%.
CDK has been the subject of a number of recent analyst reports. Zacks Investment Research cut CDK Global from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. Barrington Research upgraded CDK Global from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Tuesday, May 29th. ValuEngine upgraded CDK Global from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. BidaskClub upgraded CDK Global from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 16th. Finally, Morgan Stanley cut their price objective on CDK Global from $77.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, April 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $75.80.
About CDK Global
CDK Global, Inc provides integrated information technology and digital marketing solutions to the automotive retail and other industries worldwide. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. It offers technology-based solutions, including automotive Website platforms; and advertising solutions comprising the management of digital advertising spend for original equipment manufacturers and automotive retailers.
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