Mackenzie Financial Corp Purchases 8,459 Shares of CDK Global, Inc. (NASDAQ:CDK)

Mackenzie Financial Corp lifted its position in CDK Global, Inc. (NASDAQ:CDK) by 34.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,311 shares of the software maker’s stock after buying an additional 8,459 shares during the period. Mackenzie Financial Corp’s holdings in CDK Global were worth $1,417,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ProShare Advisors LLC lifted its position in CDK Global by 1.5% during the second quarter. ProShare Advisors LLC now owns 15,722 shares of the software maker’s stock valued at $781,000 after purchasing an additional 228 shares during the period. WCM Investment Management LLC lifted its position in CDK Global by 0.8% during the third quarter. WCM Investment Management LLC now owns 29,852 shares of the software maker’s stock valued at $1,270,000 after purchasing an additional 236 shares during the period. Great West Life Assurance Co. Can lifted its position in CDK Global by 0.5% during the second quarter. Great West Life Assurance Co. Can now owns 48,289 shares of the software maker’s stock valued at $2,399,000 after purchasing an additional 259 shares during the period. Keybank National Association OH lifted its position in CDK Global by 5.7% during the second quarter. Keybank National Association OH now owns 5,508 shares of the software maker’s stock valued at $274,000 after purchasing an additional 296 shares during the period. Finally, National Asset Management Inc. lifted its position in CDK Global by 4.0% during the second quarter. National Asset Management Inc. now owns 7,878 shares of the software maker’s stock valued at $392,000 after purchasing an additional 304 shares during the period. Hedge funds and other institutional investors own 89.28% of the company’s stock.

CDK opened at $43.58 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 3.44. CDK Global, Inc. has a 1-year low of $38.53 and a 1-year high of $55.51. The company has a market capitalization of $5.16 billion, a PE ratio of 5.10 and a beta of 1.30. The firm’s 50 day simple moving average is $41.18 and its two-hundred day simple moving average is $43.58.

CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Monday, November 1st. The software maker reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. The firm had revenue of $440.00 million during the quarter, compared to analysts’ expectations of $441.05 million. CDK Global had a net margin of 61.80% and a return on equity of 119.09%. During the same period in the prior year, the company posted $0.74 earnings per share. Equities analysts forecast that CDK Global, Inc. will post 2.42 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 30th. Stockholders of record on Tuesday, March 1st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.38%. CDK Global’s dividend payout ratio (DPR) is presently 7.02%.

Several research firms have weighed in on CDK. Morgan Stanley downgraded shares of CDK Global from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $56.00 to $48.00 in a research report on Thursday, December 16th. Zacks Investment Research downgraded shares of CDK Global from a “hold” rating to a “sell” rating in a research report on Tuesday.

CDK Global Profile

CDK Global, Inc engages in the provision of integrated information technology and digital marketing solutions to the automotive, heavy truck, recreation, and heavy equipment industries. The firm focuses on providing a suite of subscription-based software and technology solutions for automotive retailers in North America.

Further Reading: What is Green Investing?

Want to see what other hedge funds are holding CDK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDK Global, Inc. (NASDAQ:CDK).

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

Receive News & Ratings for CDK Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global and related companies with MarketBeat.com's FREE daily email newsletter.