Pictet Asset Management Ltd. Acquires 2,800 Shares of CDK Global Inc (NASDAQ:CDK)

Pictet Asset Management Ltd. boosted its holdings in CDK Global Inc (NASDAQ:CDK) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,014 shares of the software maker’s stock after buying an additional 2,800 shares during the period. Pictet Asset Management Ltd.’s holdings in CDK Global were worth $2,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Berman Capital Advisors LLC grew its holdings in shares of CDK Global by 76.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 623 shares of the software maker’s stock worth $30,000 after purchasing an additional 269 shares in the last quarter. Cordasco Financial Network acquired a new stake in shares of CDK Global during the 2nd quarter worth approximately $33,000. Wealthcare Advisory Partners LLC grew its holdings in shares of CDK Global by 224.9% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 692 shares of the software maker’s stock worth $34,000 after purchasing an additional 479 shares in the last quarter. Alpha Windward LLC grew its holdings in shares of CDK Global by 41.1% during the 2nd quarter. Alpha Windward LLC now owns 965 shares of the software maker’s stock worth $51,000 after purchasing an additional 281 shares in the last quarter. Finally, Icon Wealth Partners LLC acquired a new stake in shares of CDK Global during the 1st quarter worth approximately $59,000. 81.35% of the stock is currently owned by institutional investors.

CDK stock traded up $0.65 during trading on Thursday, hitting $46.99. The company had a trading volume of 22,864 shares, compared to its average volume of 766,468. The company has a fifty day moving average price of $45.91 and a two-hundred day moving average price of $51.98. The company has a market cap of $5.68 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.40 and a beta of 0.90. CDK Global Inc has a fifty-two week low of $41.50 and a fifty-two week high of $64.77.

CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, August 13th. The software maker reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.02. The business had revenue of $488.60 million for 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%. CDK Global’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 EPS. As a group, analysts expect that CDK Global Inc will post 3.19 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, August 30th. CDK Global’s dividend payout ratio is 19.11%.

Several analysts have recently weighed in on CDK shares. BidaskClub raised CDK Global from a “sell” rating to a “hold” rating in a report on Friday, September 13th. ValuEngine lowered CDK Global from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Barrington Research reissued a “buy” rating and set a $65.00 price objective on shares of CDK Global in a report on Monday, August 19th. Finally, Zacks Investment Research lowered CDK Global from a “hold” rating to a “strong sell” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. CDK Global has a consensus rating of “Hold” and a consensus target price of $64.00.

In related news, General Counsel Lee J. Brunz sold 1,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $50.74, for a total value of $50,740.00. Following the sale, the general counsel now owns 37,927 shares of the company’s stock, valued at approximately $1,924,415.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 2,000 shares of company stock worth $95,440. 0.50% of the stock is owned by insiders.

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.

See Also: FAANG Stocks

Want to see what other hedge funds are holding CDK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDK Global Inc (NASDAQ:CDK).

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

Receive News & Ratings for CDK Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global and related companies with MarketBeat.com's FREE daily email newsletter.