Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of CDK Global Inc (NASDAQ:CDK) by 15.8% during the 1st quarter, HoldingsChannel reports. The fund owned 42,466 shares of the software maker’s stock after selling 7,985 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CDK Global were worth $1,395,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CDK. Parallel Advisors LLC grew its stake in CDK Global by 127.6% during the 1st quarter. Parallel Advisors LLC now owns 867 shares of the software maker’s stock valued at $28,000 after acquiring an additional 486 shares in the last quarter. BBVA USA Bancshares Inc. purchased a new position in CDK Global during the 4th quarter valued at about $30,000. Pearl River Capital LLC acquired a new stake in shares of CDK Global during the 1st quarter valued at about $46,000. S.A. Mason LLC acquired a new stake in shares of CDK Global during the 4th quarter valued at about $50,000. Finally, Signaturefd LLC lifted its holdings in shares of CDK Global by 110.4% during the 4th quarter. Signaturefd LLC now owns 1,176 shares of the software maker’s stock valued at $64,000 after buying an additional 617 shares during the last quarter. 82.86% of the stock is currently owned by institutional investors.

In other news, CAO Jennifer A. Williams sold 3,407 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $40.40, for a total transaction of $137,642.80. Following the completion of the transaction, the chief accounting officer now directly owns 8,657 shares in the company, valued at $349,742.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.36% of the stock is owned by insiders.

Several brokerages have recently issued reports on CDK. BidaskClub lowered CDK Global from a “buy” rating to a “hold” rating in a report on Wednesday. Oppenheimer reduced their price target on CDK Global from $67.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Zacks Investment Research lowered CDK Global from a “hold” rating to a “sell” rating in a report on Wednesday. Wells Fargo & Co reduced their target price on CDK Global from $65.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Finally, ValuEngine upgraded CDK Global from a “sell” rating to a “hold” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $52.40.

CDK opened at $38.49 on Friday. The business has a 50 day moving average price of $35.97 and a 200 day moving average price of $46.81. CDK Global Inc has a twelve month low of $29.12 and a twelve month high of $57.00. The firm has a market cap of $4.63 billion, a P/E ratio of 769.95, a price-to-earnings-growth ratio of 1.22 and a beta of 1.33.

CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, May 5th. The software maker reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.11. CDK Global had a negative return on equity of 59.38% and a net margin of 0.35%. The firm had revenue of $516.30 million during the quarter, compared to analyst estimates of $496.30 million. During the same period in the previous year, the company earned $0.87 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, research analysts expect that CDK Global Inc will post 2.83 EPS for the current year.

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.

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

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