Assenagon Asset Management S.A. Acquires 36,546 Shares of CDK Global Inc (NASDAQ:CDK)
Assenagon Asset Management S.A. increased its position in shares of CDK Global Inc (NASDAQ:CDK) by 150.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,781 shares of the software maker’s stock after purchasing an additional 36,546 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.05% of CDK Global worth $2,923,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in CDK. Nordea Investment Management AB boosted its holdings in CDK Global by 72.2% during the first quarter. Nordea Investment Management AB now owns 267,705 shares of the software maker’s stock worth $15,747,000 after purchasing an additional 112,278 shares during the last quarter. First Trust Advisors LP boosted its holdings in CDK Global by 2.0% during the first quarter. First Trust Advisors LP now owns 26,815 shares of the software maker’s stock worth $1,577,000 after purchasing an additional 524 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in CDK Global by 197.0% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 445,287 shares of the software maker’s stock worth $26,192,000 after purchasing an additional 295,353 shares during the last quarter. DNB Asset Management AS boosted its stake in CDK Global by 8.5% in the second quarter. DNB Asset Management AS now owns 92,953 shares of the software maker’s stock valued at $4,596,000 after acquiring an additional 7,300 shares during the last quarter. Finally, Denali Advisors LLC boosted its stake in CDK Global by 6.1% in the second quarter. Denali Advisors LLC now owns 125,600 shares of the software maker’s stock valued at $6,210,000 after acquiring an additional 7,200 shares during the last quarter. Institutional investors and hedge funds own 81.37% of the company’s stock.
A number of research firms have weighed in on CDK. BidaskClub upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Friday, September 13th. Barrington Research reiterated a “buy” rating and issued a $65.00 target price on shares of CDK Global in a research note on Monday, August 19th. ValuEngine upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of CDK Global from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $64.00.
CDK Global (NASDAQ:CDK) last released its earnings results on Tuesday, August 13th. The software maker reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.02. The firm had revenue of $488.60 million for the quarter, compared to analysts’ expectations of $585.10 million. CDK Global had a net margin of 5.55% and a negative return on equity of 90.04%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 earnings per share. On average, sell-side analysts expect that CDK Global Inc will post 3.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Friday, August 30th. CDK Global’s payout ratio is currently 19.11%.
About CDK Global
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.
Featured Article: What is the QQQ ETF?
Receive News & Ratings for CDK Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global and related companies with MarketBeat.com's FREE daily email newsletter.