Frontier Capital Management Co. LLC lifted its position in shares of CDK Global Inc (NASDAQ:CDK) by 11.9% during the fourth quarter, HoldingsChannel reports. The firm owned 1,579,837 shares of the software maker’s stock after acquiring an additional 167,520 shares during the period. Frontier Capital Management Co. LLC’s holdings in CDK Global were worth $112,611,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of CDK Global by 4.0% during the second quarter. BlackRock Inc. now owns 13,718,146 shares of the software maker’s stock valued at $851,347,000 after purchasing an additional 521,564 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of CDK Global by 3.6% during the second quarter. Vanguard Group Inc. now owns 12,646,904 shares of the software maker’s stock valued at $784,867,000 after purchasing an additional 434,687 shares in the last quarter. Southpoint Capital Advisors LP lifted its position in shares of CDK Global by 13.8% during the second quarter. Southpoint Capital Advisors LP now owns 2,275,700 shares of the software maker’s stock valued at $141,230,000 after purchasing an additional 275,700 shares in the last quarter. FMR LLC lifted its position in shares of CDK Global by 0.5% during the second quarter. FMR LLC now owns 2,249,300 shares of the software maker’s stock valued at $139,592,000 after purchasing an additional 10,322 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of CDK Global by 82.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,290,870 shares of the software maker’s stock valued at $80,111,000 after purchasing an additional 584,720 shares in the last quarter. 87.52% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on CDK. Barrington Research lowered shares of CDK Global from an “outperform” rating to a “market perform” rating and set a $75.00 price target on the stock. in a research report on Wednesday. They noted that the move was a valuation call. TheStreet raised shares of CDK Global from a “c+” rating to a “b-” rating in a research report on Thursday, October 19th. BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. Finally, Zacks Investment Research lowered shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $72.60.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.68 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.68. CDK Global had a net margin of 13.42% and a return on equity of 515.77%. The business had revenue of $565.70 million during the quarter, compared to the consensus estimate of $569.28 million. During the same quarter last year, the company posted $0.60 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. research analysts predict that CDK Global Inc will post 2.97 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 1st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.81%. CDK Global’s dividend payout ratio (DPR) is presently 29.13%.
In related news, VP Jennifer A. Williams sold 1,984 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $62.58, for a total transaction of $124,158.72. Following the completion of the sale, the vice president now owns 5,560 shares in the company, valued at $347,944.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.39% of the company’s stock.
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About CDK Global
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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