CDK Global Inc (CDK) Stake Lifted by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its holdings in CDK Global Inc (NASDAQ:CDK) by 8.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,470 shares of the software maker’s stock after acquiring an additional 1,640 shares during the quarter. Sterling Capital Management LLC’s holdings in CDK Global were worth $1,459,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Macquarie Group Ltd. acquired a new position in shares of CDK Global in the 3rd quarter worth approximately $145,000. Bredin Investment LLC acquired a new position in CDK Global during the 4th quarter worth $203,000. Overbrook Management Corp acquired a new position in CDK Global during the 4th quarter worth $203,000. BB&T Corp acquired a new position in CDK Global during the 4th quarter worth $208,000. Finally, Retirement Income Solutions Inc acquired a new position in CDK Global during the 4th quarter worth $209,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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Several 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 objective on the stock in a report on Wednesday, January 31st. Morgan Stanley upped their price objective on CDK Global from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Wells Fargo reaffirmed an “outperform” rating and set a $80.00 price objective (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 objective on the stock. 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 stock presently has a consensus rating of “Hold” and an average target price of $76.80.

In other CDK Global 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 completion of the sale, the insider now owns 11,072 shares in the company, valued at approximately $773,379.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott L. Mathews sold 5,514 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $68.91, for a total transaction of $379,969.74. Following the sale, the executive vice president now owns 48,520 shares of the company’s stock, valued at approximately $3,343,513.20. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

CDK Global Inc (NASDAQ CDK) opened at $63.97 on Monday. CDK Global Inc has a 1-year low of $59.33 and a 1-year high of $76.04. 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 stock has a market capitalization of $8,607.71, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 1.31 and a beta of 0.70.

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

The firm also recently announced 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 dividend yield of 0.94%. The ex-dividend date of this dividend is Wednesday, February 28th. CDK Global’s payout ratio is 26.55%.

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CDK Global Company 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.

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

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