FIL Ltd lifted its stake in CDK Global Inc (NASDAQ:CDK) by 675.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 216,137 shares of the software maker’s stock after purchasing an additional 188,252 shares during the quarter. FIL Ltd’s holdings in CDK Global were worth $12,713,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. AlphaCrest Capital Management LLC boosted its position in shares of CDK Global by 35.8% during the first quarter. AlphaCrest Capital Management LLC now owns 16,700 shares of the software maker’s stock worth $982,000 after buying an additional 4,400 shares during the period. GAM Holding AG boosted its position in shares of CDK Global by 116.3% during the first quarter. GAM Holding AG now owns 14,646 shares of the software maker’s stock worth $861,000 after buying an additional 7,874 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in shares of CDK Global during the first quarter worth $1,712,000. Rockefeller Capital Management L.P. boosted its position in shares of CDK Global by 27.2% during the first quarter. Rockefeller Capital Management L.P. now owns 7,476 shares of the software maker’s stock worth $440,000 after buying an additional 1,597 shares during the period. Finally, AJO LP purchased a new position in shares of CDK Global during the first quarter worth $275,000. 82.65% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on CDK. BidaskClub lowered CDK Global from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Friday, May 3rd. ValuEngine lowered CDK Global from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Finally, Barrington Research restated a “buy” rating on shares of CDK Global in a research report on Monday, April 29th. One investment 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 has an average rating of “Hold” and a consensus target price of $67.75.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.98 earnings per share (EPS) for the quarter, beating the 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 last year, the firm earned $0.85 earnings per share. Analysts anticipate that CDK Global Inc will post 3.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Monday, June 3rd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, May 31st. CDK Global’s payout ratio is currently 19.74%.
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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.
Further Reading: What is a Tariff?
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