Gotham Asset Management LLC Has $14.32 Million Position in CDK Global Inc (CDK)
Gotham Asset Management LLC decreased its position in shares of CDK Global Inc (NASDAQ:CDK) by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,824 shares of the software maker’s stock after selling 22,137 shares during the period. Gotham Asset Management LLC’s holdings in CDK Global were worth $14,315,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. LPL Financial LLC grew its holdings in CDK Global by 6.7% during the 4th quarter. LPL Financial LLC now owns 11,256 shares of the software maker’s stock worth $802,000 after acquiring an additional 702 shares in the last quarter. Amalgamated Bank grew its holdings in CDK Global by 5.0% during the 4th quarter. Amalgamated Bank now owns 16,201 shares of the software maker’s stock worth $1,155,000 after acquiring an additional 768 shares in the last quarter. Sei Investments Co. grew its holdings in CDK Global by 11.5% during the 3rd quarter. Sei Investments Co. now owns 11,413 shares of the software maker’s stock worth $719,000 after acquiring an additional 1,174 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in CDK Global by 6.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 20,491 shares of the software maker’s stock worth $1,293,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in CDK Global by 3.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,566 shares of the software maker’s stock worth $2,559,000 after acquiring an additional 1,319 shares in the last quarter. 85.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CDK Global stock opened at $66.89 on Thursday. The firm has a market cap of $9,106.92, a PE ratio of 29.60, a P/E/G ratio of 1.38 and a beta of 0.70. CDK Global Inc has a 52-week low of $59.33 and a 52-week high of $76.04. The company has a debt-to-equity ratio of -11.19, a current ratio of 1.97 and a quick ratio of 1.97.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 1st will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.90%. CDK Global’s dividend payout ratio is presently 26.55%.
In other CDK Global news, EVP Scott L. Mathews sold 5,514 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $68.91, for a total transaction of $379,969.74. Following the sale, the executive vice president now directly owns 48,520 shares in the company, valued at approximately $3,343,513.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rajiv K. Amar sold 1,968 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $69.85, for a total transaction of $137,464.80. Following the sale, the insider now owns 11,072 shares in the company, valued at $773,379.20. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.
CDK has been the subject of several research reports. BidaskClub lowered shares of CDK Global from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Barrington Research lowered shares of CDK Global from an “outperform” rating to a “market perform” rating and set a $75.00 price target for the company. in a report on Wednesday, January 17th. They noted that the move was a valuation call. Wells Fargo reaffirmed an “outperform” rating and issued a $80.00 price target (up from $75.00) on shares of CDK Global in a report on Wednesday, January 31st. Morgan Stanley lifted their price target on shares of CDK Global from $76.00 to $77.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Finally, Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $76.80.
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About CDK Global
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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