Teachers Retirement System of The State of Kentucky decreased its position in shares of CDK Global Inc (NASDAQ:CDK) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,940 shares of the software maker’s stock after selling 1,800 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in CDK Global were worth $2,134,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Macquarie Group Ltd. purchased a new position in shares of CDK Global during the third quarter valued at about $145,000. Overbrook Management Corp purchased a new position in shares of CDK Global during the fourth quarter valued at about $203,000. Bredin Investment LLC purchased a new position in shares of CDK Global during the fourth quarter valued at about $203,000. Atlas Brown Inc. purchased a new position in shares of CDK Global during the fourth quarter valued at about $214,000. Finally, BB&T Corp bought a new position in shares of CDK Global in the 4th quarter valued at about $208,000. Hedge funds and other institutional investors own 85.62% of the company’s stock.
CDK Global stock opened at $69.54 on Monday. The company has a debt-to-equity ratio of -11.19, a current ratio of 1.97 and a quick ratio of 1.97. CDK Global Inc has a 1-year low of $59.33 and a 1-year high of $76.04. The company has a market cap of $9,357.20, a PE ratio of 25.29, a P/E/G ratio of 1.42 and a beta of 0.70.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Wednesday, February 28th. CDK Global’s payout ratio is currently 26.55%.
A number of brokerages recently commented on CDK. BidaskClub downgraded shares of CDK Global from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 21st. Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Wednesday, January 31st. Morgan Stanley increased their price target on shares of CDK Global from $76.00 to $77.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Wells Fargo reaffirmed an “outperform” rating and issued a $80.00 price target (up previously from $75.00) on shares of CDK Global in a report on Wednesday, January 31st. Finally, Barrington Research downgraded shares of CDK Global from an “outperform” rating to a “market perform” rating and set a $75.00 price target for the company. in a report on Wednesday, January 17th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $76.80.
In other CDK Global news, EVP Scott L. Mathews sold 5,514 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $68.91, for a total value of $379,969.74. Following the completion of the sale, the executive vice president now owns 48,520 shares of the company’s stock, valued at $3,343,513.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Rajiv K. Amar sold 1,968 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $69.85, for a total transaction of $137,464.80. Following the completion of the sale, the insider now directly owns 11,072 shares of the company’s stock, valued at approximately $773,379.20. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.
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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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