Harel Insurance Investments & Financial Services Ltd. Acquires Shares of 560 CDK Global Inc (CDK)
Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of CDK Global Inc (NASDAQ:CDK) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 560 shares of the software maker’s stock, valued at approximately $33,000.
Other institutional investors have also recently modified their holdings of the company. Bruderman Asset Management LLC grew its position in shares of CDK Global by 722.7% during the fourth quarter. Bruderman Asset Management LLC now owns 543 shares of the software maker’s stock valued at $26,000 after purchasing an additional 477 shares in the last quarter. CX Institutional purchased a new position in shares of CDK Global during the fourth quarter valued at about $27,000. Essex Investment Management Co. LLC purchased a new position in shares of CDK Global during the fourth quarter valued at about $30,000. Laurel Wealth Advisors LLC purchased a new position in CDK Global in the fourth quarter worth about $32,000. Finally, Liberty Wealth Management LLC purchased a new position in CDK Global in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.
Several research analysts recently commented on the company. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Zacks Investment Research lowered CDK Global from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. ValuEngine upgraded CDK Global from a “sell” rating to a “hold” rating in a research report on Monday, March 25th. Finally, Oppenheimer set a $67.00 price target on CDK Global and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $67.25.
CDK Global (NASDAQ:CDK) last released its quarterly earnings results on Tuesday, February 5th. The software maker reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.12. The company had revenue of $590.40 million during the quarter, compared to analyst estimates of $578.91 million. CDK Global had a negative return on equity of 135.00% and a net margin of 16.36%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.87 earnings per share. As a group, analysts expect that CDK Global Inc will post 3.64 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.99%. CDK Global’s dividend payout ratio is currently 19.74%.
CDK Global Company 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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