Virtu Financial LLC purchased a new position in shares of CDK Global Inc (NASDAQ:CDK) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 9,412 shares of the software maker’s stock, valued at approximately $589,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Keybank National Association OH grew its position in CDK Global by 6.5% during the 2nd quarter. Keybank National Association OH now owns 14,783 shares of the software maker’s stock worth $962,000 after acquiring an additional 897 shares during the last quarter. Aurora Investment Counsel lifted its holdings in CDK Global by 3.2% during the 3rd quarter. Aurora Investment Counsel now owns 29,687 shares of the software maker’s stock worth $1,857,000 after buying an additional 909 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in CDK Global by 9.9% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 10,487 shares of the software maker’s stock worth $682,000 after buying an additional 949 shares in the last quarter. Signet Financial Management LLC lifted its holdings in CDK Global by 1.4% during the 2nd quarter. Signet Financial Management LLC now owns 69,569 shares of the software maker’s stock worth $4,525,000 after buying an additional 949 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in CDK Global by 3.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 25,939 shares of the software maker’s stock worth $1,687,000 after buying an additional 971 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

NASDAQ:CDK opened at $47.98 on Friday. CDK Global Inc has a 52-week low of $47.67 and a 52-week high of $76.04. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.37 and a beta of 0.72.

CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Wednesday, November 7th. The software maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.06. The firm had revenue of $554.50 million for the quarter, compared to the consensus estimate of $560.52 million. CDK Global had a negative return on equity of 173.86% and a net margin of 17.23%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 EPS. Equities analysts expect that CDK Global Inc will post 3.59 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, November 30th. CDK Global’s dividend payout ratio (DPR) is currently 19.74%.

Several research analysts have issued reports on CDK shares. BidaskClub downgraded CDK Global from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 9th. Morgan Stanley set a $62.00 price objective on CDK Global and gave the stock a “hold” rating in a report on Thursday, November 8th. Zacks Investment Research downgraded CDK Global from a “hold” rating to a “sell” rating in a report on Monday, August 20th. Wells Fargo & Co downgraded CDK Global from an “outperform” rating to a “market perform” rating in a report on Thursday, November 8th. Finally, Barrington Research set a $80.00 price objective on CDK Global and gave the stock a “buy” rating in a report on Tuesday, November 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $72.20.

In related news, CFO Joseph A. Tautges purchased 7,900 shares of the business’s stock in a transaction dated Friday, November 9th. The shares were bought at an average price of $50.68 per share, with a total value of $400,372.00. Following the purchase, the chief financial officer now directly owns 25,594 shares in the company, valued at approximately $1,297,103.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Lee J. Brunz purchased 2,500 shares of the business’s stock in a transaction dated Friday, November 9th. The stock was bought at an average cost of $50.96 per share, for a total transaction of $127,400.00. Following the purchase, the general counsel now owns 39,427 shares in the company, valued at $2,009,199.92. The disclosure for this purchase can be found here. Corporate insiders own 0.50% of the company’s stock.

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

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