State Farm Mutual Automobile Insurance Co. Continues to Hold Holdings in CDK Global, Inc. (NASDAQ:CDK)

State Farm Mutual Automobile Insurance Co. maintained its position in CDK Global, Inc. (NASDAQ:CDK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,227,383 shares of the software maker’s stock at the end of the 2nd quarter. State Farm Mutual Automobile Insurance Co. owned 0.86% of CDK Global worth $76,171,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Glen Harbor Capital Management LLC raised its position in CDK Global by 9.1% during the first quarter. Glen Harbor Capital Management LLC now owns 6,842 shares of the software maker’s stock valued at $445,000 after acquiring an additional 572 shares in the last quarter. Russell Investments Group Ltd. raised its position in CDK Global by 4.0% during the first quarter. Russell Investments Group Ltd. now owns 20,693 shares of the software maker’s stock valued at $1,346,000 after acquiring an additional 796 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in CDK Global by 10.6% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 10,119 shares of the software maker’s stock valued at $657,000 after acquiring an additional 973 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of CDK Global by 175.8% in the first quarter. Wells Fargo & Company MN now owns 787,979 shares of the software maker’s stock valued at $51,226,000 after purchasing an additional 502,276 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of CDK Global by 1.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,134 shares of the software maker’s stock valued at $1,244,000 after purchasing an additional 264 shares during the period. 85.01% of the stock is owned by institutional investors and hedge funds.

CDK has been the topic of a number of recent analyst reports. BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. TheStreet downgraded shares of CDK Global from a “c” rating to a “d+” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company upgraded shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Wednesday, June 21st. Finally, Evercore ISI upgraded shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $71.75.

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CDK Global, Inc. (NASDAQ:CDK) opened at 63.12 on Friday. The company has a 50 day moving average price of $62.40 and a 200-day moving average price of $63.27. CDK Global, Inc. has a 12-month low of $53.46 and a 12-month high of $67.49. The company has a market capitalization of $8.84 billion, a PE ratio of 31.72 and a beta of 0.75.

CDK Global (NASDAQ:CDK) last released its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The business had revenue of $565.40 million during the quarter, compared to analyst estimates of $556.68 million. During the same quarter in the prior year, the company posted $0.49 EPS. CDK Global’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts anticipate that CDK Global, Inc. will post $2.95 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 11th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, September 8th. CDK Global’s dividend payout ratio is currently 28.00%.

CDK Global 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.

Institutional Ownership by Quarter for CDK Global (NASDAQ:CDK)

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