Barings LLC Has $5,516,000 Holdings in CDK Global, Inc. (CDK)
Barings LLC maintained its stake in shares of CDK Global, Inc. (NASDAQ:CDK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,850 shares of the software maker’s stock at the end of the 2nd quarter. Barings LLC owned approximately 0.06% of CDK Global worth $5,516,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CDK. Alpha Windward LLC grew its stake in CDK Global by 2.3% during the second quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock worth $100,000 after buying an additional 36 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of CDK Global by 5.6% during the 2nd quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock valued at $194,000 after acquiring an additional 167 shares in the last quarter. Pinnacle Financial Partners Inc. acquired a new position in shares of CDK Global during the 2nd quarter valued at $198,000. North American Management Corp lifted its holdings in shares of CDK Global by 6.3% during the 2nd quarter. North American Management Corp now owns 3,342 shares of the software maker’s stock valued at $207,000 after acquiring an additional 199 shares in the last quarter. Finally, RiverPoint Capital Management LLC acquired a new position in shares of CDK Global during the 1st quarter valued at $221,000. 85.01% of the stock is owned by institutional investors.
Shares of CDK Global, Inc. (NASDAQ CDK) traded up 0.47% on Wednesday, reaching $64.12. The company had a trading volume of 154,848 shares. CDK Global, Inc. has a 52-week low of $53.46 and a 52-week high of $67.49. The company has a 50-day moving average price of $62.71 and a 200-day moving average price of $63.02. The firm has a market capitalization of $8.98 billion, a PE ratio of 32.22 and a beta of 0.73.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The business had revenue of $565.40 million during the quarter, compared to the consensus estimate of $556.68 million. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. CDK Global’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. Equities research analysts forecast that CDK Global, Inc. will post $2.95 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 11th were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.88%. CDK Global’s payout ratio is presently 28.00%.
A number of analysts recently weighed in on CDK shares. Zacks Investment Research raised shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. TheStreet downgraded CDK Global from a “c” rating to a “d+” rating in a research report on Tuesday, August 1st. Wells Fargo & Company upgraded CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Wednesday, June 21st. Finally, Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Monday, July 10th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $72.00.
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CDK Global Company Profile
CDK Global, Inc provides integrated information technology and digital marketing solutions. The Company’s segments include Retail Solutions North America, Advertising North America and CDK International. Through its Retail Solutions North America segment, the Company provides technology-based solutions, including automotive Website platforms, that help automotive retailers, original equipment manufacturers (OEMs) and other industry participants manage the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles.
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