South Dakota Investment Council continued to hold its position in shares of CDK Global, Inc. (NASDAQ:CDK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,800 shares of the software maker’s stock at the end of the second quarter. South Dakota Investment Council’s holdings in CDK Global were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of CDK Global by 5,907.6% in the 1st quarter. BlackRock Inc. now owns 13,196,582 shares of the software maker’s stock valued at $857,910,000 after purchasing an additional 12,976,917 shares during the period. Vanguard Group Inc. lifted its stake in shares of CDK Global by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 12,212,217 shares of the software maker’s stock valued at $793,916,000 after purchasing an additional 222,582 shares during the period. Credit Suisse AG lifted its stake in shares of CDK Global by 2.6% in the 1st quarter. Credit Suisse AG now owns 3,532,673 shares of the software maker’s stock valued at $229,659,000 after purchasing an additional 88,269 shares during the period. Principal Financial Group Inc. lifted its stake in shares of CDK Global by 4.0% in the 2nd quarter. Principal Financial Group Inc. now owns 2,528,901 shares of the software maker’s stock valued at $156,943,000 after purchasing an additional 98,417 shares during the period. Finally, FMR LLC lifted its stake in shares of CDK Global by 14.4% in the 1st quarter. FMR LLC now owns 2,238,978 shares of the software maker’s stock valued at $145,556,000 after purchasing an additional 282,363 shares during the period. Hedge funds and other institutional investors own 85.06% of the company’s stock.
CDK has been the subject of several recent analyst reports. Zacks Investment Research raised shares of CDK Global from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. TheStreet lowered shares of CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. Wells Fargo & Company raised shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Wednesday, June 21st. Finally, Evercore ISI raised shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Monday, July 10th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. CDK Global has a consensus rating of “Buy” and a consensus price target of $71.75.
Shares of CDK Global, Inc. (NASDAQ:CDK) opened at 62.61 on Tuesday. The company has a 50-day moving average of $63.21 and a 200 day moving average of $63.51. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of 31.46 and a beta of 0.75. CDK Global, Inc. has a one year low of $53.46 and a one year high of $67.49.
CDK Global (NASDAQ:CDK) last released its earnings results on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The company had revenue of $565.40 million during the quarter, compared to the consensus estimate of $556.68 million. During the same quarter last year, the company earned $0.49 earnings per share. CDK Global’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities analysts forecast that CDK Global, Inc. will post $2.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 11th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Friday, September 8th. CDK Global’s dividend payout ratio (DPR) is currently 28.00%.
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CDK Global Profile
CDK Global, Inc provides integrated information technology and digital marketing solutions. The Company’s segments include Retail Solutions North America, Advertising North America and CDK International. Through its Retail Solutions North America segment, the Company provides technology-based solutions, including automotive Website platforms, that help automotive retailers, original equipment manufacturers (OEMs) and other industry participants manage the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles.
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