Rhumbline Advisers Buys 27,346 Shares of CDK Global, Inc. (CDK)
Rhumbline Advisers raised its stake in shares of CDK Global, Inc. (NASDAQ:CDK) by 9.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 322,982 shares of the software maker’s stock after buying an additional 27,346 shares during the quarter. Rhumbline Advisers owned about 0.23% of CDK Global worth $20,377,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in CDK. Dimensional Fund Advisors LP raised its stake in CDK Global by 10.3% during the first quarter. Dimensional Fund Advisors LP now owns 403,504 shares of the software maker’s stock valued at $26,231,000 after buying an additional 37,620 shares during the last quarter. Bank of Montreal Can raised its stake in shares of CDK Global by 0.6% in the second quarter. Bank of Montreal Can now owns 123,307 shares of the software maker’s stock worth $7,653,000 after purchasing an additional 763 shares during the last quarter. Creative Planning raised its stake in shares of CDK Global by 3.0% in the second quarter. Creative Planning now owns 9,626 shares of the software maker’s stock worth $597,000 after purchasing an additional 278 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of CDK Global by 73.3% in the second quarter. State of Alaska Department of Revenue now owns 5,580 shares of the software maker’s stock worth $346,000 after purchasing an additional 2,360 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of CDK Global by 528.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 21,188 shares of the software maker’s stock worth $1,315,000 after purchasing an additional 17,817 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.
Shares of CDK Global, Inc. (NASDAQ CDK) opened at $67.91 on Tuesday. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 297.80. CDK Global, Inc. has a fifty-two week low of $56.50 and a fifty-two week high of $68.00. The company has a market capitalization of $9,205.42, a price-to-earnings ratio of 26.56, a P/E/G ratio of 1.51 and a beta of 0.72.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.68 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. CDK Global had a return on equity of 515.77% and a net margin of 13.42%. The company had revenue of $565.70 million during the quarter, compared to analyst estimates of $569.28 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. CDK Global’s revenue was up 2.7% compared to the same quarter last year. analysts forecast that CDK Global, Inc. will post 2.96 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.88%. This is a positive change from CDK Global’s previous quarterly dividend of $0.14. CDK Global’s payout ratio is presently 27.18%.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut CDK Global from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. BidaskClub cut CDK Global from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Barrington Research set a $75.00 price target on CDK Global and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Finally, TheStreet upgraded CDK Global from a “c+” rating to a “b-” rating in a research note on Thursday, October 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. CDK Global presently has an average rating of “Buy” and an average target price of $72.60.
In other CDK Global news, VP Jennifer A. Williams sold 1,984 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $62.58, for a total transaction of $124,158.72. Following the completion of the sale, the vice president now owns 5,560 shares of the company’s stock, valued at $347,944.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.
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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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