CDK Global, Inc. (CDK) Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund
Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in CDK Global, Inc. (NASDAQ:CDK) by 3.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,566 shares of the software maker’s stock after purchasing an additional 1,319 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in CDK Global were worth $2,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of CDK. D.A. Davidson & CO. raised its position in CDK Global by 5.6% during the second quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock valued at $194,000 after acquiring an additional 167 shares in the last quarter. Pinnacle Financial Partners Inc. bought a new position in CDK Global during the second quarter valued at approximately $198,000. TrimTabs Asset Management LLC raised its position in CDK Global by 105.0% during the second quarter. TrimTabs Asset Management LLC now owns 3,766 shares of the software maker’s stock valued at $234,000 after acquiring an additional 1,929 shares in the last quarter. Regentatlantic Capital LLC raised its position in CDK Global by 3.6% during the second quarter. Regentatlantic Capital LLC now owns 3,806 shares of the software maker’s stock valued at $236,000 after acquiring an additional 133 shares in the last quarter. Finally, Associated Banc Corp raised its position in CDK Global by 4.7% during the second quarter. Associated Banc Corp now owns 3,965 shares of the software maker’s stock valued at $246,000 after acquiring an additional 179 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on CDK. Barrington Research set a $75.00 price target on shares of CDK Global and gave the company a “buy” rating in a research report on Tuesday, October 31st. BidaskClub upgraded shares of CDK Global from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. TheStreet upgraded shares of CDK Global from a “c+” rating to a “b-” rating in a research note on Thursday, October 19th. Finally, Zacks Investment Research downgraded shares of CDK Global from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus 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 CDK Global stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $62.58, for a total transaction of $124,158.72. Following the sale, the vice president now owns 5,560 shares in the company, valued at $347,944.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is owned by insiders.
Shares of CDK Global, Inc. (CDK) opened at $68.65 on Wednesday. CDK Global, Inc. has a 52 week low of $56.50 and a 52 week high of $68.68. The company has a debt-to-equity ratio of 297.80, a current ratio of 2.37 and a quick ratio of 2.37. The stock has a market cap of $9,340.21, a price-to-earnings ratio of 26.95, a PEG ratio of 1.52 and a beta of 0.72.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.68 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.68. CDK Global had a net margin of 13.42% and a return on equity of 515.77%. The firm had revenue of $565.70 million for the quarter, compared to the consensus estimate of $569.28 million. During the same quarter in the previous year, the company earned $0.60 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. research analysts expect that CDK Global, Inc. will post 2.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.87%. This is an increase from CDK Global’s previous quarterly dividend of $0.14. CDK Global’s payout ratio is currently 27.18%.
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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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