Alberta Investment Management Corp acquired a new position in shares of CDK Global Inc (NASDAQ:CDK) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 84,800 shares of the software maker’s stock, valued at approximately $2,786,000. Alberta Investment Management Corp owned about 0.07% of CDK Global as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Capital International Investors acquired a new position in CDK Global during the 4th quarter worth about $240,921,000. Norges Bank acquired a new position in CDK Global during the 4th quarter worth about $79,895,000. Capital International Inc. CA acquired a new position in CDK Global during the 4th quarter worth about $38,325,000. Anchor Capital Advisors LLC lifted its holdings in CDK Global by 86.6% during the 4th quarter. Anchor Capital Advisors LLC now owns 1,466,620 shares of the software maker’s stock worth $80,195,000 after buying an additional 680,644 shares during the period. Finally, Capital Research Global Investors lifted its holdings in CDK Global by 63.9% during the 4th quarter. Capital Research Global Investors now owns 1,545,223 shares of the software maker’s stock worth $84,493,000 after buying an additional 602,205 shares during the period. Institutional investors and hedge funds own 82.86% of the company’s stock.
CDK stock opened at $38.99 on Friday. The stock’s 50 day simple moving average is $36.08 and its 200 day simple moving average is $46.75. CDK Global Inc has a fifty-two week low of $29.12 and a fifty-two week high of $57.00. The company has a market cap of $4.68 billion, a P/E ratio of 779.96, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Tuesday, May 5th. The software maker reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. CDK Global had a negative return on equity of 59.38% and a net margin of 0.35%. The business had revenue of $516.30 million for the quarter, compared to the consensus estimate of $496.30 million. During the same period in the prior year, the business earned $0.87 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts predict that CDK Global Inc will post 2.83 EPS for the current year.
Several research analysts have commented on CDK shares. Morgan Stanley lifted their target price on CDK Global from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. BidaskClub downgraded CDK Global from a “buy” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Co dropped their price objective on CDK Global from $65.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Oppenheimer dropped their price objective on CDK Global from $67.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Finally, ValuEngine raised CDK Global from a “sell” rating to a “hold” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $52.40.
In related news, CAO Jennifer A. Williams sold 3,407 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $40.40, for a total transaction of $137,642.80. Following the transaction, the chief accounting officer now directly owns 8,657 shares of the company’s stock, valued at approximately $349,742.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.36% of the stock is currently owned by corporate insiders.
CDK Global 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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