Public Employees Retirement Association of Colorado decreased its position in shares of CDK Global, Inc. (NASDAQ:CDK) by 2.4% during the second quarter, Holdings Channel reports. The fund owned 27,472 shares of the software maker’s stock after selling 687 shares during the period. Public Employees Retirement Association of Colorado’s holdings in CDK Global were worth $1,705,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CDK. BlackRock Inc. boosted its stake 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 in the last quarter. Vanguard Group Inc. boosted its stake 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 in the last quarter. Credit Suisse AG boosted its stake 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 in the last quarter. FMR LLC boosted its stake 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake 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 in the last quarter. Institutional investors own 83.30% of the company’s stock.

Shares of CDK Global, Inc. (NASDAQ CDK) opened at 61.29 on Friday. CDK Global, Inc. has a 52-week low of $53.46 and a 52-week high of $67.49. The stock has a market cap of $8.59 billion, a PE ratio of 30.80 and a beta of 0.74. The stock’s 50 day moving average is $63.22 and its 200 day moving average is $63.72.

CDK Global (NASDAQ:CDK) last released its earnings results on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The firm had revenue of $565.40 million for the quarter, compared to the consensus estimate of $556.68 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Equities research analysts forecast that CDK Global, Inc. will post $2.95 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 11th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Friday, September 8th. CDK Global’s dividend payout ratio (DPR) is presently 28.00%.

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Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub cut shares of CDK Global from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. TheStreet cut shares of CDK Global from a “c” rating to a “d+” rating in a research note on Tuesday, August 1st. Wells Fargo & Company upgraded shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research note on Wednesday, June 21st. Finally, Evercore ISI upgraded shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 target price on the stock in a research note 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 company’s stock. CDK Global presently has an average rating of “Hold” and a consensus price target of $71.75.

In related news, insider Brian P. Macdonald bought 5,000 shares of the stock in a transaction dated Friday, May 26th. The shares were purchased at an average price of $60.47 per share, with a total value of $302,350.00. Following the completion of the acquisition, the insider now owns 96,877 shares of the company’s stock, valued at $5,858,152.19. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 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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Institutional Ownership by Quarter for CDK Global (NASDAQ:CDK)

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