BlackRock Inc. raised its holdings in shares of CDK Global Inc (NASDAQ:CDK) by 9.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,995,613 shares of the software maker’s stock after acquiring an additional 1,313,730 shares during the quarter. BlackRock Inc. owned approximately 12.37% of CDK Global worth $741,383,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Ellevest Inc. bought a new stake in CDK Global during the second quarter valued at about $91,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of CDK Global in the second quarter worth about $53,000. Maverick Capital Ltd. bought a new stake in shares of CDK Global in the second quarter worth about $2,454,000. Verition Fund Management LLC bought a new stake in shares of CDK Global in the second quarter worth about $334,000. Finally, HM Payson & Co. bought a new stake in shares of CDK Global in the second quarter worth about $150,000. 80.80% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on the company. ValuEngine cut CDK Global from a “hold” rating to a “sell” rating in a report on Friday. BidaskClub raised CDK Global from a “buy” rating to a “strong-buy” rating in a report on Thursday. Zacks Investment Research cut CDK Global from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Barrington Research reaffirmed a “buy” rating and issued a $65.00 target price on shares of CDK Global in a report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $64.67.
Shares of CDK stock opened at $51.78 on Friday. CDK Global Inc has a 12-month low of $41.50 and a 12-month high of $63.90. The stock’s 50-day moving average price is $48.24 and its 200-day moving average price is $49.37. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92.
CDK Global (NASDAQ:CDK) last issued its earnings results on Tuesday, November 5th. The software maker reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.10. CDK Global had a negative return on equity of 75.74% and a net margin of 5.32%. The firm had revenue of $494.60 million for the quarter, compared to analysts’ expectations of $485.00 million. During the same period in the previous year, the firm posted $0.89 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. As a group, research analysts forecast that CDK Global Inc will post 3.2 EPS for the current fiscal year.
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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