CDK Global, Inc. (CDK) Holdings Increased by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans raised its position in shares of CDK Global, Inc. (NASDAQ:CDK) by 7.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 29,366 shares of the software maker’s stock after purchasing an additional 2,090 shares during the quarter. Thrivent Financial For Lutherans’ holdings in CDK Global were worth $1,822,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in CDK Global by 4.0% during the 2nd quarter. BlackRock Inc. now owns 13,718,146 shares of the software maker’s stock valued at $851,347,000 after purchasing an additional 521,564 shares during the period. Vanguard Group Inc. grew its position in shares of CDK Global by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,212,217 shares of the software maker’s stock worth $793,916,000 after buying an additional 222,582 shares during the period. Credit Suisse AG grew its position in shares of CDK Global by 2.6% during the 1st quarter. Credit Suisse AG now owns 3,532,673 shares of the software maker’s stock worth $229,659,000 after buying an additional 88,269 shares during the period. Principal Financial Group Inc. grew its position in shares of CDK Global by 4.0% during the 2nd quarter. Principal Financial Group Inc. now owns 2,528,901 shares of the software maker’s stock worth $156,943,000 after buying an additional 98,417 shares during the period. Finally, FMR LLC grew its position in shares of CDK Global by 14.4% during the 1st quarter. FMR LLC now owns 2,238,978 shares of the software maker’s stock worth $145,556,000 after buying an additional 282,363 shares during the period. 85.01% of the stock is owned by institutional investors and hedge funds.
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Shares of CDK Global, Inc. (NASDAQ:CDK) opened at 63.09 on Friday. CDK Global, Inc. has a 12 month low of $53.46 and a 12 month high of $67.49. The stock’s 50 day moving average is $62.40 and its 200 day moving average is $63.27. The firm has a market cap of $8.84 billion, a P/E ratio of 31.70 and a beta of 0.75.
CDK Global (NASDAQ:CDK) last announced its earnings results on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $565.40 million during the quarter, compared to the consensus estimate of $556.68 million. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 earnings per share. Equities research analysts expect that CDK Global, Inc. will post $2.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 11th were issued a dividend of $0.14 per share. The ex-dividend date was Friday, September 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.89%. CDK Global’s dividend payout ratio is presently 28.00%.
Several analysts have recently commented on the stock. BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. Zacks Investment Research downgraded shares of CDK Global from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Evercore ISI raised shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price objective for the company in a research report on Monday, July 10th. Wells Fargo & Company raised shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Wednesday, June 21st. Finally, TheStreet downgraded shares of CDK Global from a “c” rating to a “d+” rating in a research report on Tuesday, August 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. CDK Global presently has a consensus rating of “Hold” and a consensus target price of $71.75.
CDK Global 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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