Bank OZK trimmed its position in CDK Global Inc (NASDAQ:CDK) by 18.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,348 shares of the software maker’s stock after selling 985 shares during the quarter. Bank OZK’s holdings in CDK Global were worth $272,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in shares of CDK Global by 11.5% in the 1st quarter. Russell Investments Group Ltd. now owns 9,548 shares of the software maker’s stock worth $604,000 after buying an additional 984 shares in the last quarter. DnB Asset Management AS grew its holdings in shares of CDK Global by 8.4% during the second quarter. DnB Asset Management AS now owns 15,500 shares of the software maker’s stock valued at $1,008,000 after buying an additional 1,200 shares in the last quarter. IFM Investors Pty Ltd boosted its position in CDK Global by 41.2% during the second quarter. IFM Investors Pty Ltd now owns 6,159 shares of the software maker’s stock valued at $401,000 after purchasing an additional 1,796 shares during the last quarter. State of Alaska Department of Revenue boosted its position in CDK Global by 21.4% during the second quarter. State of Alaska Department of Revenue now owns 21,076 shares of the software maker’s stock valued at $1,370,000 after purchasing an additional 3,720 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in CDK Global by 8.3% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,019 shares of the software maker’s stock valued at $3,124,000 after purchasing an additional 3,679 shares during the last quarter. 82.16% of the stock is currently owned by institutional investors and hedge funds.
CDK has been the topic of several research reports. Zacks Investment Research lowered CDK Global from a “hold” rating to a “sell” rating in a research note on Monday, August 20th. ValuEngine lowered CDK Global from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Morgan Stanley decreased their price target on CDK Global from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 15th. Barrington Research restated a “buy” rating and set a $80.00 price target on shares of CDK Global in a research report on Monday, August 13th. Finally, BidaskClub downgraded CDK Global from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $72.20.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Wednesday, November 7th. The software maker reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.06. CDK Global had a net margin of 16.75% and a negative return on equity of 235.59%. The firm had revenue of $554.50 million during the quarter, compared to the consensus estimate of $560.52 million. During the same period last year, the business posted $0.68 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities analysts predict that CDK Global Inc will post 3.72 earnings per share for the current fiscal year.
In related news, VP Jennifer A. Williams sold 4,114 shares of CDK Global stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $61.65, for a total value of $253,628.10. Following the transaction, the vice president now directly owns 5,012 shares of the company’s stock, valued at $308,989.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.
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CDK Global 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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