CDK Global Inc (CDK) Stake Raised by Vident Investment Advisory LLC

Vident Investment Advisory LLC increased its stake in CDK Global Inc (NASDAQ:CDK) by 31.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,376 shares of the software maker’s stock after buying an additional 1,769 shares during the quarter. Vident Investment Advisory LLC’s holdings in CDK Global were worth $526,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC lifted its holdings in CDK Global by 11.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,579,837 shares of the software maker’s stock valued at $112,611,000 after purchasing an additional 167,520 shares during the last quarter. Prudential Financial Inc. lifted its holdings in CDK Global by 1.8% during the 3rd quarter. Prudential Financial Inc. now owns 1,005,135 shares of the software maker’s stock valued at $63,414,000 after purchasing an additional 17,596 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in CDK Global by 50.5% during the 4th quarter. Two Sigma Advisers LP now owns 862,600 shares of the software maker’s stock valued at $61,486,000 after purchasing an additional 289,400 shares during the last quarter. Legal & General Group Plc lifted its holdings in CDK Global by 0.4% during the 3rd quarter. Legal & General Group Plc now owns 705,717 shares of the software maker’s stock valued at $44,524,000 after purchasing an additional 2,501 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in CDK Global by 7.2% during the 4th quarter. Two Sigma Investments LP now owns 610,688 shares of the software maker’s stock valued at $43,530,000 after purchasing an additional 41,261 shares during the last quarter. 85.62% of the stock is owned by institutional investors.

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CDK Global stock opened at $63.97 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of -11.19. The firm has a market capitalization of $8,607.74, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 1.31 and a beta of 0.70. CDK Global Inc has a 12-month low of $59.33 and a 12-month high of $76.04.

CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.17. The firm had revenue of $561.70 million for the quarter, compared to analysts’ expectations of $564.94 million. CDK Global had a negative return on equity of 5,261.95% and a net margin of 14.29%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 EPS. sell-side analysts forecast that CDK Global Inc will post 3.26 earnings per share for the current fiscal year.

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 given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.94%. The ex-dividend date is Wednesday, February 28th. CDK Global’s payout ratio is 26.55%.

In other CDK Global news, insider Rajiv K. Amar sold 1,968 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $69.85, for a total transaction of $137,464.80. Following the transaction, the insider now owns 11,072 shares in the company, valued at approximately $773,379.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott L. Mathews sold 5,514 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $68.91, for a total value of $379,969.74. Following the transaction, the executive vice president now owns 48,520 shares in the company, valued at approximately $3,343,513.20. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.

Several equities research analysts have issued reports on the company. BidaskClub downgraded CDK Global from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 21st. Zacks Investment Research raised 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 raised their price target on 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 set 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 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 issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $76.80.

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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.

Institutional Ownership by Quarter for CDK Global (NASDAQ:CDK)

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