Axa purchased a new stake in CDK Global Inc (NASDAQ:CDK) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,878 shares of the software maker’s stock, valued at approximately $347,000.
A number of other hedge funds have also added to or reduced their stakes in CDK. Schroder Investment Management Group increased its stake in CDK Global by 16,000.0% in the 4th quarter. Schroder Investment Management Group now owns 322,000 shares of the software maker’s stock valued at $22,952,000 after buying an additional 320,000 shares during the period. Frontier Capital Management Co. LLC increased its stake in CDK Global by 11.9% in 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 buying an additional 167,520 shares during the period. Beacon Investment Advisory Services Inc. acquired a new position in CDK Global in the 3rd quarter valued at $8,076,000. Middleton & Co Inc MA acquired a new position in CDK Global in the 4th quarter valued at $9,062,000. Finally, TD Asset Management Inc. acquired a new position in CDK Global in the 3rd quarter valued at $5,970,000. Hedge funds and other institutional investors own 85.62% of the company’s stock.
In other news, insider Rajiv K. Amar sold 1,968 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $69.85, for a total transaction of $137,464.80. Following the transaction, the insider now directly owns 11,072 shares of the company’s stock, valued at approximately $773,379.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Scott L. Mathews sold 5,514 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $68.91, for a total transaction of $379,969.74. Following the transaction, the executive vice president now directly owns 48,520 shares in the company, valued at $3,343,513.20. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.17. CDK Global had a net margin of 14.29% and a negative return on equity of 5,261.95%. The business had revenue of $561.70 million for the quarter, compared to analysts’ expectations of $564.94 million. During the same period in the prior year, the company posted $0.55 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. research analysts predict that CDK Global Inc will post 3.26 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 1st will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.94%. CDK Global’s dividend payout ratio (DPR) is presently 26.55%.
Several equities analysts have issued reports on CDK shares. BidaskClub cut shares of CDK Global from a “sell” rating to a “strong sell” rating in a research note on Wednesday, February 21st. Morgan Stanley boosted their price objective on shares of CDK Global from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Wells Fargo reissued an “outperform” rating and issued a $80.00 price objective (up from $75.00) on shares of CDK Global in a research note on Wednesday, January 31st. Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Wednesday, January 31st. Finally, Barrington Research cut shares of CDK Global from an “outperform” rating to a “market perform” rating and set a $75.00 price objective on the stock. in a research note 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 assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $76.80.
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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