Ossiam acquired a new stake in shares of CDK Global Inc (NASDAQ:CDK) during the second quarter, HoldingsChannel reports. The institutional investor acquired 12,705 shares of the software maker’s stock, valued at approximately $628,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in CDK Global by 32.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 724,154 shares of the software maker’s stock valued at $34,671,000 after acquiring an additional 177,009 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of CDK Global by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 1,283,581 shares of the software maker’s stock valued at $61,420,000 after acquiring an additional 14,834 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of CDK Global by 2.2% during the 1st quarter. SG Americas Securities LLC now owns 16,343 shares of the software maker’s stock valued at $961,000 after acquiring an additional 348 shares during the last quarter. Stevens Capital Management LP purchased a new position in shares of CDK Global during the 1st quarter worth about $395,000. Finally, California Public Employees Retirement System lifted its holdings in shares of CDK Global by 9.5% during the 1st quarter. California Public Employees Retirement System now owns 816,319 shares of the software maker’s stock worth $48,016,000 after acquiring an additional 70,659 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.
CDK has been the topic of several research analyst reports. Barrington Research reissued a “buy” rating and issued a $65.00 target price on shares of CDK Global in a research report on Monday, August 19th. Zacks Investment Research lowered shares of CDK Global from a “hold” rating to a “strong sell” rating in a research report on Monday, August 19th. ValuEngine downgraded shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Finally, BidaskClub downgraded shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $64.00.
CDK Global stock traded up $0.60 during midday trading on Wednesday, reaching $46.84. The stock had a trading volume of 16,773 shares, compared to its average volume of 1,110,119. The stock’s 50-day simple moving average is $46.82 and its 200 day simple moving average is $52.40. CDK Global Inc has a twelve month low of $41.50 and a twelve month high of $64.77. The stock has a market capitalization of $5.57 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 1.37 and a beta of 0.90.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, August 13th. The software maker reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.02. The company had revenue of $488.60 million during the quarter, compared to analyst estimates of $585.10 million. CDK Global had a negative return on equity of 90.04% and a net margin of 5.55%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 earnings per share. Analysts predict that CDK Global Inc will post 3.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Friday, August 30th. CDK Global’s dividend payout ratio is currently 19.11%.
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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