Strs Ohio Boosts Stake in CDK Global Inc (CDK)

Strs Ohio raised its stake in CDK Global Inc (NASDAQ:CDK) by 39.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,630 shares of the software maker’s stock after acquiring an additional 3,271 shares during the quarter. Strs Ohio’s holdings in CDK Global were worth $556,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. CX Institutional bought a new position in CDK Global during the 4th quarter worth approximately $27,000. WealthTrust Fairport LLC bought a new position in CDK Global during the 3rd quarter worth approximately $104,000. Steward Partners Investment Advisory LLC bought a new position in CDK Global during the 3rd quarter worth approximately $179,000. Polaris Greystone Financial Group LLC bought a new position in CDK Global during the 3rd quarter worth approximately $186,000. Finally, Meeder Asset Management Inc. raised its holdings in CDK Global by 136.7% during the 4th quarter. Meeder Asset Management Inc. now owns 4,595 shares of the software maker’s stock worth $220,000 after purchasing an additional 2,654 shares during the last quarter. 82.05% of the stock is owned by hedge funds and other institutional investors.

Shares of CDK stock traded up $0.50 during trading hours on Monday, hitting $55.87. 303,477 shares of the company were exchanged, compared to its average volume of 1,431,500. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 1.52 and a beta of 0.65. CDK Global Inc has a fifty-two week low of $44.01 and a fifty-two week high of $71.71.

CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Tuesday, February 5th. The software maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.12. CDK Global had a net margin of 16.36% and a negative return on equity of 135.00%. The business had revenue of $590.40 million during the quarter, compared to the consensus estimate of $578.91 million. During the same quarter last year, the firm posted $0.87 EPS. CDK Global’s revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts expect that CDK Global Inc will post 3.64 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, February 28th. CDK Global’s payout ratio is currently 19.74%.

In other CDK Global news, insider Neil Packham purchased 588 shares of CDK Global stock in a transaction that occurred on Friday, December 14th. The stock was acquired at an average price of $47.76 per share, with a total value of $28,082.88. Following the transaction, the insider now owns 588 shares in the company, valued at approximately $28,082.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

Several analysts have recently commented on CDK shares. Morgan Stanley set a $62.00 price objective on shares of CDK Global and gave the stock a “hold” rating in a research report on Thursday, November 8th. Zacks Investment Research raised shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Friday, January 11th. Barrington Research set a $80.00 price objective on shares of CDK Global and gave the stock a “buy” rating in a research report on Tuesday, November 13th. Oppenheimer set a $67.00 price objective on shares of CDK Global and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Finally, Wells Fargo & Co downgraded shares of CDK Global from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. CDK Global currently has an average rating of “Hold” and a consensus price target of $67.25.

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

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