Dupont Capital Management Corp Invests $5.19 Million in CDK Global, Inc. (CDK)
Dupont Capital Management Corp acquired a new position in shares of CDK Global, Inc. (NASDAQ:CDK) during the second quarter, Holdings Channel reports. The institutional investor acquired 83,580 shares of the software maker’s stock, valued at approximately $5,187,000.
A number of other hedge funds have also bought and sold shares of CDK. BlackRock Inc. increased its stake in shares of CDK Global by 5,907.6% in the first quarter. BlackRock Inc. now owns 13,196,582 shares of the software maker’s stock worth $857,910,000 after buying an additional 12,976,917 shares during the period. HWG Holdings LP purchased a new stake in shares of CDK Global during the first quarter worth $1,438,000. MARSHALL WACE ASIA Ltd purchased a new stake in shares of CDK Global during the first quarter worth $4,168,000. DnB Asset Management AS increased its stake in shares of CDK Global by 50.0% in the second quarter. DnB Asset Management AS now owns 17,400 shares of the software maker’s stock worth $1,080,000 after buying an additional 5,800 shares during the period. Finally, Cipher Capital LP purchased a new stake in shares of CDK Global during the first quarter worth $2,393,000. 81.37% of the stock is owned by hedge funds and other institutional investors.
Shares of CDK Global, Inc. (NASDAQ:CDK) opened at 61.62 on Wednesday. The stock’s 50 day moving average is $63.15 and its 200-day moving average is $63.73. CDK Global, Inc. has a one year low of $53.46 and a one year high of $67.49. The company has a market cap of $8.63 billion, a P/E ratio of 30.96 and a beta of 0.74.
CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The company had revenue of $565.40 million during the quarter, compared to analyst estimates of $556.68 million. During the same period last year, the business earned $0.49 earnings per share. CDK Global’s revenue was up 4.3% compared to the same quarter last year. Equities research analysts forecast that CDK Global, Inc. will post $2.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 11th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.91%. CDK Global’s dividend payout ratio (DPR) is currently 28.00%.
A number of analysts have recently weighed in on CDK shares. Zacks Investment Research downgraded shares of CDK Global from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. Evercore ISI raised shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Monday, July 10th. TheStreet downgraded shares of CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. Wells Fargo & Company raised shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Wednesday, June 21st. Finally, BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $71.75.
In related news, insider Brian P. Macdonald bought 5,000 shares of the company’s stock in a transaction on Friday, May 26th. The stock was acquired at an average cost of $60.47 per share, for a total transaction of $302,350.00. Following the completion of the transaction, the insider now directly owns 96,877 shares in the company, valued at approximately $5,858,152.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.
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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