Credit Suisse AG boosted its position in shares of CDK Global Inc (NASDAQ:CDK) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 191,790 shares of the software maker’s stock after purchasing an additional 8,547 shares during the period. Credit Suisse AG owned approximately 0.15% of CDK Global worth $11,998,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WealthTrust Fairport LLC acquired a new stake in CDK Global during the 3rd quarter valued at $104,000. Qube Research & Technologies Ltd acquired a new position in CDK Global during the 2nd quarter worth $109,000. Fort L.P. acquired a new position in CDK Global during the 2nd quarter worth $121,000. Itau Unibanco Holding S.A. acquired a new position in CDK Global during the 2nd quarter worth $170,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in CDK Global during the 3rd quarter worth $179,000. 79.91% of the stock is owned by institutional investors and hedge funds.
Shares of CDK stock opened at $47.98 on Friday. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 1.37 and a beta of 0.72. CDK Global Inc has a 1-year low of $47.67 and a 1-year high of $76.04.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Wednesday, November 7th. The software maker reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.06. The company had revenue of $554.50 million during the quarter, compared to analyst estimates of $560.52 million. CDK Global had a net margin of 17.23% and a negative return on equity of 173.86%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. Sell-side analysts predict that CDK Global Inc will post 3.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be given a $0.15 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.25%. CDK Global’s payout ratio is currently 19.74%.
In other CDK Global news, General Counsel Lee J. Brunz purchased 2,500 shares of CDK Global stock in a transaction dated Friday, November 9th. The shares were bought at an average cost of $50.96 per share, for a total transaction of $127,400.00. Following the transaction, the general counsel now owns 39,427 shares in the company, valued at approximately $2,009,199.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joseph A. Tautges purchased 7,900 shares of CDK Global stock in a transaction dated Friday, November 9th. The stock was acquired at an average price of $50.68 per share, for a total transaction of $400,372.00. Following the completion of the transaction, the chief financial officer now owns 25,594 shares in the company, valued at approximately $1,297,103.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.
Several research analysts have weighed in on CDK shares. Zacks Investment Research lowered shares of CDK Global from a “hold” rating to a “sell” rating in a report on Monday, August 20th. ValuEngine lowered shares of CDK Global from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Morgan Stanley decreased their price objective on shares of CDK Global from $75.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, August 15th. Barrington Research reissued a “buy” rating and set a $80.00 price objective on shares of CDK Global in a report on Monday, August 13th. Finally, BidaskClub raised shares of CDK Global from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. CDK Global presently has an average rating of “Hold” and a consensus target price of $72.20.
About CDK Global
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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