Meadow Creek Investment Management LLC grew its stake in CDK Global Inc (NASDAQ:CDK) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,346 shares of the software maker’s stock after purchasing an additional 1,326 shares during the period. Meadow Creek Investment Management LLC’s holdings in CDK Global were worth $1,379,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC raised its stake in shares of CDK Global by 11.9% during 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 period. Prudential Financial Inc. raised its stake in CDK Global by 1.8% in the 3rd quarter. Prudential Financial Inc. now owns 1,005,135 shares of the software maker’s stock valued at $63,414,000 after purchasing an additional 17,596 shares during the last quarter. Two Sigma Advisers LP raised its stake in CDK Global by 50.5% in the 4th quarter. Two Sigma Advisers LP now owns 862,600 shares of the software maker’s stock valued at $61,486,000 after purchasing an additional 289,400 shares during the last quarter. Legal & General Group Plc raised its stake in CDK Global by 0.4% in the 3rd quarter. Legal & General Group Plc now owns 705,717 shares of the software maker’s stock valued at $44,524,000 after purchasing an additional 2,501 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in CDK Global by 7.2% in the 4th quarter. Two Sigma Investments LP now owns 610,688 shares of the software maker’s stock valued at $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.
CDK has been the subject of several recent research reports. BidaskClub downgraded 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 objective for the company. in a research note on Wednesday, January 17th. They noted that the move was a valuation call. Zacks Investment Research raised CDK Global from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Wednesday, January 31st. 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 note on Wednesday, January 31st. Finally, Wells Fargo reissued an “outperform” rating and issued a $80.00 price objective (up from $75.00) on shares of CDK Global in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $76.80.
Shares of CDK Global Inc (CDK) opened at $68.59 on Tuesday. CDK Global Inc has a 52 week low of $59.33 and a 52 week high of $76.04. The stock has a market capitalization of $9,357.20, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 1.42 and a beta of 0.70. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of -11.19.
CDK Global (NASDAQ:CDK) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.17. CDK Global had a negative return on equity of 5,261.95% and a net margin of 14.29%. The business had revenue of $561.70 million during the quarter, compared to the consensus estimate of $564.94 million. During the same period last year, the company earned $0.55 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. sell-side analysts anticipate that CDK Global Inc will post 3.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Wednesday, February 28th. CDK Global’s dividend payout ratio (DPR) is presently 26.55%.
In other news, EVP Scott L. Mathews sold 5,514 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $68.91, for a total transaction of $379,969.74. Following the completion of the transaction, the executive vice president now directly owns 48,520 shares in the company, valued at approximately $3,343,513.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rajiv K. Amar sold 1,968 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $69.85, for a total value of $137,464.80. Following the transaction, the insider now owns 11,072 shares of the company’s stock, valued at $773,379.20. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.
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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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