Great West Life Assurance Co. Can Boosts Position in CDK Global, Inc. (CDK)
Great West Life Assurance Co. Can boosted its stake in shares of CDK Global, Inc. (NASDAQ:CDK) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 147,843 shares of the software maker’s stock after buying an additional 1,985 shares during the period. Great West Life Assurance Co. Can’s holdings in CDK Global were worth $9,168,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in CDK. BlackRock Inc. increased its position in CDK Global by 5,907.6% in the first quarter. BlackRock Inc. now owns 13,196,582 shares of the software maker’s stock valued at $857,910,000 after buying an additional 12,976,917 shares during the last quarter. Vanguard Group Inc. increased its position in CDK Global by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,212,217 shares of the software maker’s stock valued at $793,916,000 after buying an additional 222,582 shares during the last quarter. Credit Suisse AG increased its position in CDK Global by 2.6% in the first quarter. Credit Suisse AG now owns 3,532,673 shares of the software maker’s stock valued at $229,659,000 after buying an additional 88,269 shares during the last quarter. FMR LLC increased its position in CDK Global by 14.4% in the first quarter. FMR LLC now owns 2,238,978 shares of the software maker’s stock valued at $145,556,000 after buying an additional 282,363 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in CDK Global by 11.8% in the first quarter. Bank of New York Mellon Corp now owns 1,948,504 shares of the software maker’s stock valued at $126,673,000 after buying an additional 205,612 shares during the last quarter. 83.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CDK Global, Inc. (CDK) opened at 61.15 on Friday. The firm has a 50-day moving average of $63.27 and a 200 day moving average of $63.71. CDK Global, Inc. has a 12-month low of $53.46 and a 12-month high of $67.49. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 30.73 and a beta of 0.74.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $565.40 million for the quarter, compared to analyst estimates of $556.68 million. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. CDK Global’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 earnings per share. Equities analysts forecast that CDK Global, Inc. will post $2.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 11th will be paid a $0.14 dividend. The ex-dividend date is Friday, September 8th. This represents a $0.56 dividend on an annualized basis and a yield of 0.92%. CDK Global’s dividend payout ratio is presently 28.00%.
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Several equities analysts recently issued reports on CDK shares. Zacks Investment Research raised CDK Global from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub raised CDK Global from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. TheStreet downgraded 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 price target on the stock in a 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 price target on the stock in a report on Monday, July 10th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. CDK Global has an average rating of “Hold” and an average price target of $71.75.
In other CDK Global news, insider Brian P. Macdonald acquired 5,000 shares of the company’s stock in a transaction on Friday, May 26th. The shares were bought at an average cost of $60.47 per share, for a total transaction of $302,350.00. Following the completion of the purchase, the insider now owns 96,877 shares in the company, valued at approximately $5,858,152.19. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.34% of the company’s stock.
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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