Sumitomo Mitsui Trust Holdings Inc. increased its holdings in CDK Global, Inc. (NASDAQ:CDK) by 2.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 363,459 shares of the software maker’s stock after acquiring an additional 10,318 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.25% of CDK Global worth $22,556,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in CDK. State of Alaska Department of Revenue acquired a new position in shares of CDK Global in the first quarter worth about $209,000. First Manhattan Co. lifted its stake in shares of CDK Global by 0.3% in the first quarter. First Manhattan Co. now owns 11,477 shares of the software maker’s stock worth $658,000 after acquiring an additional 32 shares in the last quarter. Glen Harbor Capital Management LLC increased its holdings in CDK Global by 9.1% in the first quarter. Glen Harbor Capital Management LLC now owns 6,842 shares of the software maker’s stock valued at $445,000 after buying an additional 572 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in CDK Global by 4.0% in the first quarter. Russell Investments Group Ltd. now owns 20,693 shares of the software maker’s stock valued at $1,346,000 after buying an additional 796 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD increased its holdings in CDK Global by 10.6% in 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 buying an additional 973 shares during the last quarter. Institutional investors and hedge funds own 85.06% of the company’s stock.
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CDK Global, Inc. (NASDAQ:CDK) traded up 0.48% during trading on Friday, hitting $61.15. The stock had a trading volume of 3,364,881 shares. CDK Global, Inc. has a 52 week low of $53.46 and a 52 week high of $67.49. The company has a market cap of $8.57 billion, a PE ratio of 30.73 and a beta of 0.75. The stock has a 50-day moving average price of $62.63 and a 200-day moving average price of $63.39.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The company had revenue of $565.40 million during the quarter, compared to analyst estimates of $556.68 million. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $0.49 earnings per share. Equities analysts predict that CDK Global, Inc. will post $2.95 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 11th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, September 8th. CDK Global’s payout ratio is 28.00%.
CDK has been the subject of several research analyst reports. Zacks Investment Research lowered CDK Global from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Evercore ISI raised CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Monday, July 10th. TheStreet lowered CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. BidaskClub raised CDK Global from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Wells Fargo & Company raised CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Wednesday, June 21st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. CDK Global has an average rating of “Hold” and a consensus target price of $71.75.
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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