New York State Teachers Retirement System lessened its holdings in CDK Global Inc (NASDAQ:CDK) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 174,968 shares of the software maker’s stock after selling 2,000 shares during the quarter. New York State Teachers Retirement System’s holdings in CDK Global were worth $8,377,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of CDK. Clarkston Capital Partners LLC raised its position in CDK Global by 118.0% in the fourth quarter. Clarkston Capital Partners LLC now owns 1,499,940 shares of the software maker’s stock worth $71,817,000 after purchasing an additional 811,839 shares in the last quarter. FMR LLC increased its holdings in shares of CDK Global by 35.1% during the second quarter. FMR LLC now owns 2,846,088 shares of the software maker’s stock worth $185,138,000 after buying an additional 739,661 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of CDK Global during the third quarter worth approximately $42,432,000. BlackRock Inc. increased its holdings in shares of CDK Global by 4.8% during the third quarter. BlackRock Inc. now owns 14,017,687 shares of the software maker’s stock worth $876,946,000 after buying an additional 643,215 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of CDK Global by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 2,344,089 shares of the software maker’s stock worth $152,484,000 after buying an additional 386,080 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on CDK. Zacks Investment Research lowered shares of CDK Global from a “hold” rating to a “sell” rating in a report on Monday, November 12th. Oppenheimer set a $67.00 price objective on shares of CDK Global and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley set a $62.00 price objective on shares of CDK Global and gave the stock a “hold” rating in a report on Thursday, November 8th. Barrington Research set a $80.00 price objective on shares of CDK Global and gave the stock a “buy” rating in a report on Tuesday, November 13th. Finally, BidaskClub lowered shares of CDK Global from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $70.25.
In other CDK Global news, CFO Joseph A. Tautges acquired 7,900 shares of CDK Global stock in a transaction on Friday, November 9th. The shares were purchased at an average cost of $50.68 per share, with a total value of $400,372.00. Following the completion of the purchase, the chief financial officer now owns 25,594 shares in the company, valued at $1,297,103.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Lee J. Brunz acquired 2,500 shares of CDK Global stock in a transaction on Friday, November 9th. The stock was acquired at an average cost of $50.96 per share, for a total transaction of $127,400.00. Following the completion of the purchase, the general counsel now owns 39,427 shares of the company’s stock, valued at approximately $2,009,199.92. The disclosure for this purchase can be found here. In the last three months, insiders purchased 10,988 shares of company stock valued at $555,855. 0.50% of the stock is currently owned by company insiders.
NASDAQ CDK opened at $54.29 on Wednesday. The company has a market cap of $6.35 billion, a PE ratio of 17.86, a PEG ratio of 1.38 and a beta of 0.65. CDK Global Inc has a 1-year low of $44.01 and a 1-year high of $71.71.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Tuesday, February 5th. The software maker reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.08. The company had revenue of $590.40 million during the quarter, compared to analyst estimates of $578.91 million. CDK Global had a net margin of 17.23% and a negative return on equity of 173.86%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.87 earnings per share. Equities research analysts forecast that CDK Global Inc will post 3.58 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, February 28th. CDK Global’s dividend payout ratio is currently 19.74%.
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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