American International Group Inc. increased its position in shares of CDK Global Inc (NASDAQ:CDK) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 272,053 shares of the software maker’s stock after acquiring an additional 2,599 shares during the period. American International Group Inc. owned approximately 0.20% of CDK Global worth $19,392,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. acquired a new stake in CDK Global during the 3rd quarter worth about $145,000. Bredin Investment LLC acquired a new stake in CDK Global during the 4th quarter worth about $203,000. BB&T Corp acquired a new stake in CDK Global during the 4th quarter worth about $208,000. Retirement Income Solutions Inc acquired a new stake in CDK Global during the 4th quarter worth about $209,000. Finally, Atlas Brown Inc. acquired a new stake in CDK Global during the 4th quarter worth about $214,000. 85.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CDK Global Inc (NASDAQ:CDK) traded down $0.67 during mid-day trading on Wednesday, hitting $69.56. The company had a trading volume of 883,235 shares, compared to its average volume of 1,298,748. 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 has a market cap of $9,525.40, a P/E ratio of 30.78, a price-to-earnings-growth ratio of 1.45 and a beta of 0.70. CDK Global Inc has a 1-year low of $59.33 and a 1-year high of $76.04.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.86%. The ex-dividend date is Wednesday, February 28th. CDK Global’s dividend payout ratio is currently 26.55%.
Several equities research analysts have recently issued reports on the company. BidaskClub lowered CDK Global from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 21st. Zacks Investment Research upgraded 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. Morgan Stanley lifted their price target on CDK Global from $76.00 to $77.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Wells Fargo & Co reiterated an “outperform” rating and set a $80.00 price target (up from $75.00) on shares of CDK Global in a report on Wednesday, January 31st. Finally, Barrington Research lowered 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. CDK Global has a consensus rating of “Hold” and a consensus price target of $76.80.
In other news, EVP Scott L. Mathews sold 5,514 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 $3,343,513.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rajiv K. Amar sold 1,968 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $69.85, for a total value 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. Insiders own 0.39% of the company’s stock.
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CDK Global Company Profile
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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