Candriam Luxembourg S.C.A. Buys 1,768 Shares of CDK Global Inc. (CDK)
Candriam Luxembourg S.C.A. boosted its stake in CDK Global Inc. (NASDAQ:CDK) by 29.9% during the second quarter, Holdings Channel reports. The fund owned 7,690 shares of the company’s stock after buying an additional 1,768 shares during the period. Candriam Luxembourg S.C.A.’s holdings in CDK Global were worth $427,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of CDK Global by 0.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,161 shares of the company’s stock valued at $938,000 after buying an additional 125 shares in the last quarter. BlackRock Inc. boosted its position in shares of CDK Global by 6.4% in the first quarter. BlackRock Inc. now owns 236,087 shares of the company’s stock valued at $10,991,000 after buying an additional 14,229 shares in the last quarter. BlackRock Group LTD boosted its position in shares of CDK Global by 1.6% in the first quarter. BlackRock Group LTD now owns 903,724 shares of the company’s stock valued at $42,069,000 after buying an additional 14,273 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of CDK Global by 142.7% in the first quarter. JPMorgan Chase & Co. now owns 479,486 shares of the company’s stock valued at $22,320,000 after buying an additional 281,925 shares in the last quarter. Finally, Ropes Wealth Advisors LLC boosted its position in shares of CDK Global by 3.3% in the first quarter. Ropes Wealth Advisors LLC now owns 7,323 shares of the company’s stock valued at $341,000 after buying an additional 231 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.
Shares of CDK Global Inc. (NASDAQ:CDK) traded up 0.15% during midday trading on Wednesday, reaching $54.99. The company had a trading volume of 779,551 shares. The company has a market capitalization of $8.26 billion, a PE ratio of 36.42 and a beta of 0.65. The company has a 50 day moving average of $57.28 and a 200 day moving average of $54.44. CDK Global Inc. has a one year low of $39.67 and a one year high of $60.09.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. CDK Global had a return on equity of 45.25% and a net margin of 11.32%. The business earned $542.20 million during the quarter, compared to analyst estimates of $533.84 million. During the same period in the prior year, the company earned $0.28 earnings per share. CDK Global’s revenue was up 7.8% compared to the same quarter last year. Analysts predict that CDK Global Inc. will post $2.32 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a dividend of $0.135 per share. The ex-dividend date was Wednesday, September 14th. This represents a $0.54 annualized dividend and a dividend yield of 0.98%. CDK Global’s dividend payout ratio is currently 35.76%.
Several brokerages have recently issued reports on CDK. William Blair began coverage on CDK Global in a research note on Wednesday. They issued a “market perform” rating on the stock. Zacks Investment Research lowered CDK Global from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $55.75.
About CDK Global
CDK Global, Inc is a provider of integrated information technology and digital marketing/advertising solutions to the automotive retail industry. The Company’s segments are Automotive Retail North America (ARNA), Automotive Retail International (ARI) and Digital Marketing (DM). The Company’s solutions automate workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, and repair and maintenance of vehicles.
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