Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in CDK Global Inc (NASDAQ:CDK) by 5.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 44,912 shares of the software maker’s stock after selling 2,826 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in CDK Global were worth $2,642,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CDK. LSV Asset Management bought a new stake in shares of CDK Global in the fourth quarter worth about $2,922,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of CDK Global by 5.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 16,777 shares of the software maker’s stock worth $803,000 after purchasing an additional 940 shares during the last quarter. Cerebellum GP LLC grew its stake in shares of CDK Global by 85.6% in the fourth quarter. Cerebellum GP LLC now owns 5,438 shares of the software maker’s stock worth $260,000 after purchasing an additional 2,508 shares during the last quarter. Arizona State Retirement System grew its stake in shares of CDK Global by 7.7% in the fourth quarter. Arizona State Retirement System now owns 126,553 shares of the software maker’s stock worth $6,059,000 after purchasing an additional 9,075 shares during the last quarter. Finally, Texas Permanent School Fund grew its stake in shares of CDK Global by 3.5% in the fourth quarter. Texas Permanent School Fund now owns 84,268 shares of the software maker’s stock worth $4,035,000 after purchasing an additional 2,823 shares during the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.
CDK Global stock opened at $55.41 on Tuesday. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 15.63 and a beta of 0.71. CDK Global Inc has a fifty-two week low of $44.01 and a fifty-two week high of $67.97.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.08. The business had revenue of $602.10 million for the quarter, compared to analysts’ expectations of $596.47 million. CDK Global had a negative return on equity of 113.53% and a net margin of 16.34%. During the same period in the previous year, the firm posted $0.85 EPS. On average, equities research analysts anticipate that CDK Global Inc will post 3.62 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.15 per share. The ex-dividend date is Friday, May 31st. This represents a $0.60 annualized dividend and a yield of 1.08%. CDK Global’s payout ratio is 19.74%.
CDK has been the topic of several recent analyst reports. BidaskClub cut CDK Global from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. ValuEngine raised CDK Global from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Zacks Investment Research raised CDK Global from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Friday, February 8th. Finally, Barrington Research reaffirmed a “buy” rating on shares of CDK Global in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. CDK Global currently has an average rating of “Hold” and a consensus price target of $67.75.
CDK Global Company Profile
CDK Global, Inc provides software and technology solutions for automotive retailers in the United States and internationally. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. The company offers Dealer Management System (DMS), a portfolio of layered software applications and services for automotive retailers, original equipment manufacturers (OEMs), consumers, and other industry participants manage the acquisition, sale, financing, insuring, parts supply, and repair and maintenance of vehicles.
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