Swiss National Bank Purchases 136,000 Shares of CDK Global Inc (NASDAQ:CDK)
Swiss National Bank lifted its position in shares of CDK Global Inc (NASDAQ:CDK) by 29.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 593,100 shares of the software maker’s stock after purchasing an additional 136,000 shares during the quarter. Swiss National Bank’s holdings in CDK Global were worth $29,323,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 6 Meridian increased its holdings in CDK Global by 2.2% in the second quarter. 6 Meridian now owns 9,657 shares of the software maker’s stock valued at $477,000 after buying an additional 212 shares during the last quarter. Bartlett & Co. LLC lifted its stake in shares of CDK Global by 7.6% in the 2nd quarter. Bartlett & Co. LLC now owns 3,027 shares of the software maker’s stock worth $150,000 after acquiring an additional 215 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in shares of CDK Global by 1.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 23,060 shares of the software maker’s stock worth $1,140,000 after acquiring an additional 250 shares during the period. Raymond James Trust N.A. lifted its stake in shares of CDK Global by 1.2% in the 2nd quarter. Raymond James Trust N.A. now owns 22,360 shares of the software maker’s stock worth $1,105,000 after acquiring an additional 257 shares during the period. Finally, Berman Capital Advisors LLC lifted its stake in shares of CDK Global by 76.0% in the 2nd quarter. Berman Capital Advisors LLC now owns 623 shares of the software maker’s stock worth $30,000 after acquiring an additional 269 shares during the period. Institutional investors own 82.49% of the company’s stock.
In other news, General Counsel Lee J. Brunz sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $50.74, for a total transaction of $50,740.00. Following the sale, the general counsel now owns 37,927 shares in the company, valued at $1,924,415.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 2,000 shares of company stock valued at $96,925. Company insiders own 0.50% of the company’s stock.
CDK Global (NASDAQ:CDK) last released its earnings results on Tuesday, August 13th. The software maker reported $0.88 EPS for the quarter, beating the consensus estimate of $0.86 by $0.02. CDK Global had a net margin of 5.55% and a negative return on equity of 90.04%. The business had revenue of $488.60 million during the quarter, compared to analyst estimates of $585.10 million. During the same period in the prior year, the business earned $0.87 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts forecast that CDK Global Inc will post 3.19 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, August 30th. CDK Global’s dividend payout ratio is presently 19.11%.
CDK has been the subject of a number of research analyst reports. ValuEngine raised shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Barrington Research reissued a “buy” rating and set a $65.00 target price on shares of CDK Global in a research note on Monday. Zacks Investment Research lowered shares of CDK Global from a “hold” rating to a “strong sell” rating in a research note on Monday. Finally, BidaskClub lowered shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $64.00.
CDK Global 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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