Fundsmith LLP acquired a new position in CDK Global Inc (NASDAQ:CDK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 922,783 shares of the software maker’s stock, valued at approximately $44,182,000. CDK Global comprises about 0.3% of Fundsmith LLP’s investment portfolio, making the stock its 23rd largest position. Fundsmith LLP owned about 0.74% of CDK Global as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Whittier Trust Co. lifted its position in shares of CDK Global by 3.1% during the 4th quarter. Whittier Trust Co. now owns 6,326 shares of the software maker’s stock valued at $303,000 after buying an additional 192 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of CDK Global by 24.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,442 shares of the software maker’s stock valued at $69,000 after purchasing an additional 282 shares during the period. Cardinal Capital Management raised its stake in shares of CDK Global by 1.6% during the 4th quarter. Cardinal Capital Management now owns 18,311 shares of the software maker’s stock valued at $876,000 after purchasing an additional 294 shares during the period. Bruderman Asset Management LLC raised its stake in shares of CDK Global by 722.7% during the 4th quarter. Bruderman Asset Management LLC now owns 543 shares of the software maker’s stock valued at $26,000 after purchasing an additional 477 shares during the period. Finally, Meyer Handelman Co. raised its stake in shares of CDK Global by 4.1% during the 4th quarter. Meyer Handelman Co. now owns 12,730 shares of the software maker’s stock valued at $610,000 after purchasing an additional 500 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.
In other CDK Global news, insider Neil Packham bought 588 shares of the firm’s stock in a transaction on Friday, December 14th. The shares were acquired at an average cost of $47.76 per share, for a total transaction of $28,082.88. Following the purchase, the insider now directly owns 588 shares of the company’s stock, valued at $28,082.88. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by corporate insiders.
CDK Global (NASDAQ:CDK) last announced its earnings results on Tuesday, February 5th. The software maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.12. The business had revenue of $590.40 million for the quarter, compared to analyst estimates of $578.91 million. CDK Global had a negative return on equity of 135.00% and a net margin of 16.36%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 EPS. On average, sell-side analysts expect that CDK Global Inc will post 3.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 1.04%. CDK Global’s dividend payout ratio is currently 19.74%.
CDK has been the topic of a number of analyst reports. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Friday, February 8th. Oppenheimer set a $67.00 price objective on CDK Global and gave the company a “buy” rating in a research note on Tuesday, February 5th. Finally, TheStreet lowered CDK Global from a “b-” rating to a “c+” rating in a research note on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price 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.
Further Reading: Initial Public Offering (IPO)
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