Teacher Retirement System of Texas reduced its holdings in CDK Global Inc (NASDAQ:CDK) by 28.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 395,881 shares of the software maker’s stock after selling 158,638 shares during the quarter. Teacher Retirement System of Texas’ holdings in CDK Global were worth $23,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CDK. Bruderman Asset Management LLC raised its holdings in shares of CDK Global by 722.7% in the 4th quarter. Bruderman Asset Management LLC now owns 543 shares of the software maker’s stock worth $26,000 after purchasing an additional 477 shares in the last quarter. CX Institutional bought a new stake in shares of CDK Global in the 4th quarter worth approximately $27,000. Essex Investment Management Co. LLC bought a new stake in shares of CDK Global in the 4th quarter worth approximately $30,000. Laurel Wealth Advisors LLC bought a new stake in shares of CDK Global in the 4th quarter worth approximately $32,000. Finally, Liberty Wealth Management LLC bought a new stake in shares of CDK Global in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

NASDAQ CDK opened at $51.23 on Thursday. The firm has a market cap of $6.23 billion, a P/E ratio of 16.85 and a beta of 0.71. CDK Global Inc has a 1 year low of $44.01 and a 1 year high of $67.97.

CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.08. The business 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 prior year, the firm earned $0.85 EPS. On average, analysts anticipate 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. Investors of record on Monday, June 3rd will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, May 31st. CDK Global’s dividend payout ratio is currently 19.74%.

Several research analysts have weighed in on CDK shares. BidaskClub lowered shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research lowered shares of CDK Global from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. ValuEngine lowered shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Finally, Barrington Research reiterated a “buy” rating on shares of CDK Global in a research note on Monday, April 29th. Two 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 an average rating of “Hold” and a consensus target price of $67.75.

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

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