Janney Montgomery Scott LLC grew its position in shares of CDK Global Inc (NASDAQ:CDK) by 82.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,702 shares of the software maker’s stock after purchasing an additional 38,268 shares during the period. Janney Montgomery Scott LLC owned approximately 0.07% of CDK Global worth $4,982,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its stake in CDK Global by 4,688.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,470,752 shares of the software maker’s stock worth $52,000 after purchasing an additional 2,419,149 shares during the last quarter. Norges Bank bought a new stake in shares of CDK Global during the fourth quarter valued at approximately $70,821,000. Fundsmith LLP bought a new stake in shares of CDK Global during the fourth quarter valued at approximately $44,182,000. Clarkston Capital Partners LLC raised its stake in shares of CDK Global by 118.0% during the fourth quarter. Clarkston Capital Partners LLC now owns 1,499,940 shares of the software maker’s stock valued at $71,817,000 after acquiring an additional 811,839 shares in the last quarter. Finally, Lakewood Capital Management LP raised its stake in shares of CDK Global by 55.2% during the fourth quarter. Lakewood Capital Management LP now owns 2,109,717 shares of the software maker’s stock valued at $101,013,000 after acquiring an additional 750,000 shares in the last quarter. Hedge funds and other institutional investors own 82.66% of the company’s stock.
Several brokerages recently issued reports on CDK. Barrington Research reissued a “buy” rating on shares of CDK Global in a report on Monday, April 29th. BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Zacks Investment Research lowered shares of CDK Global from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Finally, ValuEngine raised shares of CDK Global from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. CDK Global currently has a consensus rating of “Hold” and a consensus price target of $67.75.
NASDAQ CDK traded down $0.08 on Wednesday, reaching $49.92. 827,413 shares of the company’s stock traded hands, compared to its average volume of 1,034,931. The company has a market capitalization of $6.11 billion, a PE ratio of 16.42, a P/E/G ratio of 1.38 and a beta of 0.71. CDK Global Inc has a fifty-two week low of $44.01 and a fifty-two week high of $67.97.
CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, April 30th. The software maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. The company had revenue of $602.10 million during the quarter, compared to the consensus estimate of $596.47 million. CDK Global had a net margin of 16.34% and a negative return on equity of 113.53%. During the same period in the previous year, the firm posted $0.85 earnings per share. As a group, equities analysts predict that CDK Global Inc will post 3.63 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.20%. CDK Global’s dividend payout ratio (DPR) 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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