Virtu Financial LLC bought a new position in shares of CDK Global Inc (NASDAQ:CDK) in the third quarter, HoldingsChannel reports. The institutional investor bought 9,412 shares of the software maker’s stock, valued at approximately $589,000.
A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in CDK Global by 4.8% during the 3rd quarter. BlackRock Inc. now owns 14,017,687 shares of the software maker’s stock worth $876,946,000 after purchasing an additional 643,215 shares in the last quarter. Senator Investment Group LP grew its holdings in shares of CDK Global by 43.1% in the 2nd quarter. Senator Investment Group LP now owns 3,005,000 shares of the software maker’s stock valued at $195,475,000 after acquiring an additional 905,000 shares in the last quarter. FMR LLC grew its holdings in shares of CDK Global by 35.1% in the 2nd quarter. FMR LLC now owns 2,846,088 shares of the software maker’s stock valued at $185,138,000 after acquiring an additional 739,661 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of CDK Global by 3.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,434,421 shares of the software maker’s stock valued at $152,298,000 after acquiring an additional 90,332 shares in the last quarter. Finally, Boston Partners bought a new position in shares of CDK Global in the 2nd quarter valued at about $156,134,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Shares of NASDAQ:CDK opened at $47.98 on Friday. CDK Global Inc has a 52-week low of $47.67 and a 52-week high of $76.04. The stock has a market capitalization of $6.34 billion, a P/E ratio of 15.78, a PEG ratio of 1.37 and a beta of 0.72.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Monday, December 3rd will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.60 annualized dividend and a yield of 1.25%. CDK Global’s dividend payout ratio (DPR) is currently 19.74%.
Several equities analysts have recently weighed in on CDK shares. Barrington Research restated a “buy” rating and issued a $80.00 price objective on shares of CDK Global in a report on Monday, August 13th. Oppenheimer set a $67.00 price objective on CDK Global and gave the company a “buy” rating in a report on Wednesday, November 7th. TheStreet cut CDK Global from a “b-” rating to a “c+” rating in a report on Wednesday, November 14th. Morgan Stanley decreased their price objective on CDK Global from $75.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, August 15th. Finally, Zacks Investment Research upgraded CDK Global from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $72.20.
In related news, CFO Joseph A. Tautges acquired 7,900 shares of the business’s stock in a transaction on Friday, November 9th. The stock was purchased at an average cost of $50.68 per share, for a total transaction of $400,372.00. Following the completion of the transaction, the chief financial officer now directly owns 25,594 shares of the company’s stock, valued at approximately $1,297,103.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Lee J. Brunz acquired 2,500 shares of the business’s stock in a transaction on Friday, November 9th. The shares were bought at an average price of $50.96 per share, with a total value of $127,400.00. Following the completion of the transaction, the general counsel now directly owns 39,427 shares of the company’s stock, valued at $2,009,199.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.
CDK Global Company Profile
CDK Global, Inc provides software and technology solutions for automotive retailers in the United States and internationally. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. The company offers Dealer Management System (DMS), a portfolio of layered software applications and services for automotive retailers, original equipment manufacturers (OEMs), consumers, and other industry participants manage the acquisition, sale, financing, insuring, parts supply, and repair and maintenance of vehicles.
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