Dimensional Fund Advisors LP Boosts Stake in CDK Global, Inc. (NASDAQ:CDK)
Dimensional Fund Advisors LP boosted its position in CDK Global, Inc. (NASDAQ:CDK) by 10.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 403,504 shares of the software maker’s stock after buying an additional 37,620 shares during the period. Dimensional Fund Advisors LP owned about 0.28% of CDK Global worth $26,231,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. increased its position in shares of CDK Global by 1.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,979 shares of the software maker’s stock valued at $129,000 after buying an additional 23 shares during the last quarter. First Manhattan Co. increased its position in shares of CDK Global by 0.3% in the first quarter. First Manhattan Co. now owns 11,477 shares of the software maker’s stock valued at $658,000 after buying an additional 32 shares during the last quarter. Suntrust Banks Inc. increased its position in shares of CDK Global by 0.8% in the first quarter. Suntrust Banks Inc. now owns 4,681 shares of the software maker’s stock valued at $302,000 after buying an additional 35 shares during the last quarter. Albert D Mason Inc. increased its position in shares of CDK Global by 0.4% in the first quarter. Albert D Mason Inc. now owns 13,352 shares of the software maker’s stock valued at $868,000 after buying an additional 50 shares during the last quarter. Finally, Aspen Investment Management Inc increased its position in shares of CDK Global by 0.5% in the first quarter. Aspen Investment Management Inc now owns 9,463 shares of the software maker’s stock valued at $615,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 84.11% of the company’s stock.
Shares of CDK Global, Inc. (CDK) traded up 0.16% on Friday, reaching $62.06. The company’s stock had a trading volume of 1,120,489 shares. CDK Global, Inc. has a 12 month low of $53.46 and a 12 month high of $67.49. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 31.19 and a beta of 0.74. The stock has a 50 day moving average of $63.24 and a 200-day moving average of $63.70.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The firm had revenue of $565.40 million for the quarter, compared to analysts’ expectations of $556.68 million. During the same period last year, the firm earned $0.49 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts anticipate that CDK Global, Inc. will post $2.95 EPS for the current year.
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Several brokerages have commented on CDK. BidaskClub downgraded CDK Global from a “buy” rating to a “hold” rating in a report on Friday. TheStreet downgraded CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. Zacks Investment Research raised CDK Global from a “sell” rating to a “hold” rating in a report on Wednesday. Evercore ISI raised CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Monday, July 10th. Finally, Wells Fargo & Company raised CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Wednesday, June 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $71.75.
In related news, insider Brian P. Macdonald acquired 5,000 shares of CDK Global stock in a transaction dated Friday, May 26th. The shares were purchased at an average cost of $60.47 per share, with a total value of $302,350.00. Following the completion of the purchase, the insider now owns 96,877 shares of the company’s stock, valued at $5,858,152.19. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.34% of the stock is currently owned by company insiders.
CDK Global Company Profile
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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