Rhumbline Advisers Has $18.06 Million Stake in CDK Global Inc (CDK)

Rhumbline Advisers trimmed its holdings in CDK Global Inc (NASDAQ:CDK) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 288,595 shares of the software maker’s stock after selling 3,975 shares during the period. Rhumbline Advisers owned 0.22% of CDK Global worth $18,055,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Senator Investment Group LP increased its stake in CDK Global by 43.1% in the second 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 during the last quarter. FMR LLC increased its stake in CDK Global by 35.1% in the second 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 during the last quarter. Boston Partners bought a new position in CDK Global in the second quarter valued at approximately $156,134,000. Bank of New York Mellon Corp increased its stake in CDK Global by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 2,344,089 shares of the software maker’s stock valued at $152,484,000 after acquiring an additional 386,080 shares during the last quarter. Finally, Findlay Park Partners LLP increased its stake in CDK Global by 25.0% in the second quarter. Findlay Park Partners LLP now owns 1,750,000 shares of the software maker’s stock valued at $113,838,000 after acquiring an additional 350,000 shares during the last quarter. Institutional investors own 84.07% of the company’s stock.

NASDAQ CDK opened at $49.92 on Friday. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 1.38 and a beta of 0.76. CDK Global Inc has a fifty-two week low of $49.05 and a fifty-two week high of $76.04.

CDK Global (NASDAQ:CDK) last posted its earnings results on Wednesday, November 7th. The software maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.06. The firm had revenue of $554.50 million for the quarter, compared to analysts’ expectations of $560.52 million. CDK Global had a net margin of 17.23% and a negative return on equity of 173.86%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. On average, sell-side analysts expect that CDK Global Inc will post 3.59 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.20%. CDK Global’s payout ratio is presently 19.74%.

In other CDK Global news, General Counsel Lee J. Brunz acquired 2,500 shares of CDK Global stock in a transaction that occurred 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 purchase, the general counsel now directly owns 39,427 shares in the company, valued at approximately $2,009,199.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joseph A. Tautges acquired 7,900 shares of CDK Global stock in a transaction that occurred on Friday, November 9th. The stock was acquired at an average cost of $50.68 per share, for a total transaction of $400,372.00. Following the purchase, the chief financial officer now owns 25,594 shares of the company’s stock, valued at $1,297,103.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

A number of research analysts recently issued reports on CDK shares. BidaskClub raised shares of CDK Global from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 24th. Zacks Investment Research cut shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Monday, August 20th. ValuEngine cut shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Oppenheimer set a $67.00 target price on shares of CDK Global and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Finally, Wells Fargo & Co cut shares of CDK Global from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. CDK Global has an average rating of “Hold” and an average price target of $72.20.

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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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Institutional Ownership by Quarter for CDK Global (NASDAQ:CDK)

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