Daiwa Securities Group Inc. held its position in CDK Global Inc. (NASDAQ:CDK) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,900 shares of the company’s stock at the end of the second quarter. Daiwa Securities Group Inc.’s holdings in CDK Global were worth $161,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Sachem Head Capital Management LP boosted its position in CDK Global by 3.8% in the first quarter. Sachem Head Capital Management LP now owns 11,523,377 shares of the company’s stock worth $536,413,000 after buying an additional 426,044 shares during the last quarter. Elliott Management Corp boosted its position in CDK Global by 0.8% in the first quarter. Elliott Management Corp now owns 8,110,000 shares of the company’s stock worth $377,521,000 after buying an additional 64,206 shares during the last quarter. State Street Corp boosted its position in CDK Global by 2.4% in the first quarter. State Street Corp now owns 6,355,331 shares of the company’s stock worth $295,850,000 after buying an additional 147,065 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in CDK Global during the first quarter worth about $253,449,000. Finally, ING Groep NV boosted its position in CDK Global by 1.2% in the first quarter. ING Groep NV now owns 1,285,271 shares of the company’s stock worth $59,817,000 after buying an additional 14,872 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CDK Global Inc. (NASDAQ:CDK) traded down 0.16% during midday trading on Friday, hitting $56.14. The company’s stock had a trading volume of 348,792 shares. The firm has a 50-day moving average of $57.40 and a 200 day moving average of $54.24. CDK Global Inc. has a 12-month low of $39.67 and a 12-month high of $60.09. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of 37.18 and a beta of 0.65.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. CDK Global had a return on equity of 45.25% and a net margin of 11.32%. The firm earned $542.20 million during the quarter, compared to analysts’ expectations of $533.84 million. During the same quarter last year, the firm earned $0.28 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts predict that CDK Global Inc. will post $2.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a $0.135 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.54 annualized dividend and a dividend yield of 0.96%. CDK Global’s dividend payout ratio is presently 35.76%.
Separately, Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Monday, June 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $55.75.
About CDK Global
CDK Global, Inc is a provider of integrated information technology and digital marketing/advertising solutions to the automotive retail industry. The Company’s segments are Automotive Retail North America (ARNA), Automotive Retail International (ARI) and Digital Marketing (DM). The Company’s solutions automate workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, and repair and maintenance of vehicles.
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