Mutual of America Capital Management LLC Buys 3,965 Shares of CDK Global Inc (CDK)
Mutual of America Capital Management LLC grew its stake in shares of CDK Global Inc (NASDAQ:CDK) by 3.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 110,539 shares of the software maker’s stock after acquiring an additional 3,965 shares during the period. Mutual of America Capital Management LLC’s holdings in CDK Global were worth $6,915,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in CDK Global by 67.6% during the third quarter. JPMorgan Chase & Co. now owns 443,912 shares of the software maker’s stock worth $27,771,000 after buying an additional 178,983 shares during the last quarter. GAM Holding AG lifted its stake in shares of CDK Global by 12.2% in the third quarter. GAM Holding AG now owns 11,093 shares of the software maker’s stock valued at $694,000 after buying an additional 1,204 shares during the period. Tower Research Capital LLC TRC raised its position in CDK Global by 446.1% in the third quarter. Tower Research Capital LLC TRC now owns 14,925 shares of the software maker’s stock worth $934,000 after purchasing an additional 12,192 shares in the last quarter. William Blair Investment Management LLC acquired a new position in CDK Global in the third quarter worth about $42,432,000. Finally, Hsbc Holdings PLC raised its position in CDK Global by 131.4% in the third quarter. Hsbc Holdings PLC now owns 145,392 shares of the software maker’s stock worth $9,095,000 after purchasing an additional 82,563 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.
CDK has been the subject of several recent analyst reports. BidaskClub lowered shares of CDK Global from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 9th. Morgan Stanley set a $62.00 price target on shares of CDK Global and gave the company a “hold” rating in a report on Thursday, November 8th. Zacks Investment Research lowered shares of CDK Global from a “hold” rating to a “sell” rating in a report on Monday, August 20th. Wells Fargo & Co cut shares of CDK Global from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 8th. Finally, Barrington Research set a $80.00 price objective on shares of CDK Global and gave the company a “buy” rating in a research note on Tuesday, November 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $72.20.
Shares of CDK stock opened at $49.05 on Thursday. CDK Global Inc has a 52-week low of $48.13 and a 52-week high of $76.04. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 1.37 and a beta of 0.72.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Wednesday, November 7th. The software maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. CDK Global had a net margin of 17.23% and a negative return on equity of 173.86%. The firm had revenue of $554.50 million for the quarter, compared to analysts’ expectations of $560.52 million. During the same period last year, the firm earned $0.68 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts predict that CDK Global Inc will post 3.59 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.60 dividend on an annualized basis and a yield of 1.22%. CDK Global’s payout ratio is presently 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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