CIBC World Markets Inc. acquired a new position in shares of CDK Global Inc (NASDAQ:CDK) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,037 shares of the software maker’s stock, valued at approximately $509,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Legal & General Group Plc grew its position in CDK Global by 1.7% during the 1st quarter. Legal & General Group Plc now owns 701,440 shares of the software maker’s stock worth $44,401,000 after purchasing an additional 11,487 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in CDK Global by 56.6% during the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 70,289 shares of the software maker’s stock worth $4,452,000 after purchasing an additional 25,400 shares in the last quarter. Millennium Management LLC grew its holdings in shares of CDK Global by 802.2% during the 1st quarter. Millennium Management LLC now owns 760,356 shares of the software maker’s stock valued at $48,161,000 after acquiring an additional 676,076 shares in the last quarter. Highlander Capital Management LLC purchased a new position in shares of CDK Global during the 1st quarter valued at $242,000. Finally, Verition Fund Management LLC grew its holdings in shares of CDK Global by 157.3% during the 1st quarter. Verition Fund Management LLC now owns 18,695 shares of the software maker’s stock valued at $1,184,000 after acquiring an additional 11,428 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.
Several equities analysts have recently commented on CDK shares. Barrington Research restated a “hold” rating on shares of CDK Global in a report on Monday, March 26th. Zacks Investment Research cut shares of CDK Global from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 3rd. Morgan Stanley lowered their price target on shares of CDK Global from $77.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, April 27th. ValuEngine cut shares of CDK Global from a “hold” rating to a “sell” rating in a report on Tuesday, May 22nd. Finally, BidaskClub upgraded shares of CDK Global from a “strong sell” rating to a “sell” rating in a report on Saturday, June 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $75.80.
CDK Global stock opened at $65.22 on Thursday. The company has a debt-to-equity ratio of -9.65, a quick ratio of 1.80 and a current ratio of 1.80. CDK Global Inc has a 12 month low of $60.28 and a 12 month high of $76.04. The firm has a market cap of $8.59 billion, a PE ratio of 26.84, a P/E/G ratio of 1.60 and a beta of 0.75.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Thursday, April 26th. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. The firm had revenue of $576.60 million during the quarter, compared to analysts’ expectations of $578.11 million. CDK Global had a net margin of 14.99% and a negative return on equity of 361.64%. CDK Global’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. equities analysts expect that CDK Global Inc will post 3.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 29th. Investors of record on Tuesday, June 19th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Monday, June 18th. CDK Global’s dividend payout ratio is presently 24.69%.
CDK Global Company Profile
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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