IFM Investors Pty Ltd raised its holdings in shares of CDK Global Inc (NASDAQ:CDK) by 30.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,703 shares of the software maker’s stock after acquiring an additional 3,404 shares during the quarter. IFM Investors Pty Ltd’s holdings in CDK Global were worth $707,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of CDK. BlackRock Inc. grew its stake in shares of CDK Global by 9.6% during the 2nd quarter. BlackRock Inc. now owns 14,995,613 shares of the software maker’s stock worth $741,383,000 after acquiring an additional 1,313,730 shares in the last quarter. LSV Asset Management grew its stake in shares of CDK Global by 673.9% during the 2nd quarter. LSV Asset Management now owns 1,263,000 shares of the software maker’s stock worth $62,442,000 after acquiring an additional 1,099,800 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of CDK Global by 4,093.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 808,571 shares of the software maker’s stock worth $39,976,000 after acquiring an additional 789,289 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of CDK Global during the 2nd quarter worth approximately $24,641,000. Finally, Eaton Vance Management bought a new position in shares of CDK Global during the 2nd quarter worth approximately $17,926,000. 80.97% of the stock is owned by institutional investors.
Shares of NASDAQ:CDK traded down $0.60 during midday trading on Tuesday, hitting $51.93. The stock had a trading volume of 19,195 shares, compared to its average volume of 572,667. CDK Global Inc has a 12 month low of $41.50 and a 12 month high of $63.90. The business’s 50-day simple moving average is $48.40 and its 200-day simple moving average is $49.28. The company has a market cap of $6.29 billion, a P/E ratio of 16.54, a PEG ratio of 1.53 and a beta of 0.92.
Several equities analysts have recently weighed in on the stock. ValuEngine cut shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Friday. Barrington Research reaffirmed a “buy” rating and set a $65.00 price target on shares of CDK Global in a research note on Monday, August 19th. Zacks Investment Research cut shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, BidaskClub raised shares of CDK Global from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $64.67.
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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