Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of CDK Global Inc (NASDAQ:CDK) by 15.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,466 shares of the software maker’s stock after selling 7,985 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CDK Global were worth $1,395,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capital International Investors purchased a new stake in shares of CDK Global during the 4th quarter worth approximately $240,921,000. Norges Bank purchased a new stake in CDK Global in the 4th quarter valued at $79,895,000. Capital International Inc. CA purchased a new stake in CDK Global in the 4th quarter valued at $38,325,000. Anchor Capital Advisors LLC raised its position in CDK Global by 86.6% in the 4th quarter. Anchor Capital Advisors LLC now owns 1,466,620 shares of the software maker’s stock valued at $80,195,000 after purchasing an additional 680,644 shares during the last quarter. Finally, Capital Research Global Investors raised its position in CDK Global by 63.9% in the 4th quarter. Capital Research Global Investors now owns 1,545,223 shares of the software maker’s stock valued at $84,493,000 after purchasing an additional 602,205 shares during the last quarter. Institutional investors own 82.86% of the company’s stock.
Several analysts recently commented on the stock. BidaskClub downgraded shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research downgraded shares of CDK Global from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Friday, May 1st. Wells Fargo & Co cut their price objective on shares of CDK Global from $65.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Finally, Oppenheimer cut their price objective on shares of CDK Global from $67.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $52.40.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Tuesday, May 5th. The software maker reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.11. The business had revenue of $516.30 million for the quarter, compared to analysts’ expectations of $496.30 million. CDK Global had a net margin of 0.35% and a negative return on equity of 59.38%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 EPS. On average, analysts forecast that CDK Global Inc will post 2.83 EPS for the current year.
In related news, CAO Jennifer A. Williams sold 3,407 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $40.40, for a total value of $137,642.80. Following the sale, the chief accounting officer now directly owns 8,657 shares of the company’s stock, valued at approximately $349,742.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.
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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