Brinker Capital Inc. Buys 918 Shares of CDK Global Inc (NASDAQ:CDK)

Brinker Capital Inc. lifted its stake in shares of CDK Global Inc (NASDAQ:CDK) by 3.3% during the third quarter, HoldingsChannel reports. The firm owned 29,150 shares of the software maker’s stock after acquiring an additional 918 shares during the quarter. Brinker Capital Inc.’s holdings in CDK Global were worth $1,402,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of CDK Global by 9.6% during the 2nd quarter. BlackRock Inc. now owns 14,995,613 shares of the software maker’s stock worth $741,383,000 after purchasing an additional 1,313,730 shares in the last quarter. Boston Partners raised its stake in shares of CDK Global by 6.4% during the 2nd quarter. Boston Partners now owns 3,295,198 shares of the software maker’s stock worth $162,929,000 after purchasing an additional 199,298 shares in the last quarter. Bank of America Corp DE raised its stake in shares of CDK Global by 19.7% during the 2nd quarter. Bank of America Corp DE now owns 2,033,222 shares of the software maker’s stock worth $100,523,000 after purchasing an additional 335,048 shares in the last quarter. Clarkston Capital Partners LLC raised its stake in shares of CDK Global by 8.8% during the 2nd quarter. Clarkston Capital Partners LLC now owns 1,670,100 shares of the software maker’s stock worth $82,570,000 after purchasing an additional 135,110 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of CDK Global by 673.9% during the 2nd quarter. LSV Asset Management now owns 1,263,000 shares of the software maker’s stock worth $62,442,000 after purchasing an additional 1,099,800 shares in the last quarter. Institutional investors own 81.19% of the company’s stock.

CDK stock opened at $49.37 on Friday. The firm has a market capitalization of $6.05 billion, a PE ratio of 15.72, a PEG ratio of 1.47 and a beta of 0.92. CDK Global Inc has a 1-year low of $41.50 and a 1-year high of $63.90. The business’s 50 day simple moving average is $46.75 and its 200 day simple moving average is $50.04.

CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, August 13th. The software maker reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The business had revenue of $488.60 million for the quarter, compared to analyst estimates of $585.10 million. CDK Global had a negative return on equity of 90.04% and a net margin of 5.55%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 EPS. As a group, research analysts predict that CDK Global Inc will post 3.19 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, August 30th. CDK Global’s payout ratio is presently 19.11%.

A number of research firms recently weighed in on CDK. ValuEngine raised CDK Global from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub raised CDK Global from a “hold” rating to a “buy” rating in a report on Thursday. Barrington Research reissued a “buy” rating and set a $65.00 target price on shares of CDK Global in a report on Monday, August 19th. Finally, Zacks Investment Research raised CDK Global from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. CDK Global presently has an average rating of “Hold” and an average target price of $64.00.

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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Institutional Ownership by Quarter for CDK Global (NASDAQ:CDK)

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