St. James Investment Company LLC Acquires New Position in CDK Global, Inc. (NASDAQ:CDK)
St. James Investment Company LLC acquired a new stake in CDK Global, Inc. (NASDAQ:CDK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,090 shares of the software maker’s stock, valued at approximately $316,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in CDK Global by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 365,884 shares of the software maker’s stock worth $21,842,000 after buying an additional 25,969 shares during the period. Quadrature Capital Ltd acquired a new stake in CDK Global during the fourth quarter worth about $214,000. Teachers Advisors LLC increased its stake in CDK Global by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 399,899 shares of the software maker’s stock worth $23,870,000 after buying an additional 10,582 shares during the period. Gulf International Bank UK Ltd increased its stake in CDK Global by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 43,640 shares of the software maker’s stock worth $2,837,000 after buying an additional 650 shares during the period. Finally, Bank of Montreal Can increased its stake in CDK Global by 447.7% in the first quarter. Bank of Montreal Can now owns 122,544 shares of the software maker’s stock worth $7,967,000 after buying an additional 100,169 shares during the period. Institutional investors and hedge funds own 83.30% of the company’s stock.
Shares of CDK Global, Inc. (NASDAQ CDK) opened at 62.03 on Wednesday. CDK Global, Inc. has a 12 month low of $53.46 and a 12 month high of $67.49. The firm has a 50-day moving average of $63.31 and a 200 day moving average of $63.66. The firm has a market cap of $8.85 billion, a P/E ratio of 31.17 and a beta of 0.74.
CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, August 1st. The software maker reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $556.68 million. During the same period in the previous year, the company earned $0.49 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts anticipate that CDK Global, Inc. will post $2.95 EPS for the current fiscal year.
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CDK has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. TheStreet downgraded shares of CDK Global from a “c” rating to a “d+” rating in a research report on Tuesday, August 1st. Wells Fargo & Company raised shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Wednesday, June 21st. Finally, Evercore ISI raised shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 target price for the company in a research report on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $71.75.
In related news, insider Brian P. Macdonald bought 5,000 shares of CDK Global stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average cost of $60.47 per share, for a total transaction of $302,350.00. Following the acquisition, the insider now owns 96,877 shares in the company, valued at $5,858,152.19. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.34% of the stock is currently owned by insiders.
About CDK Global
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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