Rothschild Asset Management Inc. Raises Stake in CDK Global, Inc. (CDK)
Rothschild Asset Management Inc. increased its position in CDK Global, Inc. (NASDAQ:CDK) by 17.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,305 shares of the software maker’s stock after buying an additional 1,093 shares during the period. Rothschild Asset Management Inc.’s holdings in CDK Global were worth $453,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of CDK. HWG Holdings LP bought a new stake in CDK Global during the first quarter worth approximately $1,438,000. MARSHALL WACE ASIA Ltd bought a new stake in CDK Global during the first quarter worth approximately $4,168,000. Cipher Capital LP bought a new stake in CDK Global during the first quarter worth approximately $2,393,000. DnB Asset Management AS boosted its stake in CDK Global by 50.0% in the second quarter. DnB Asset Management AS now owns 17,400 shares of the software maker’s stock worth $1,080,000 after buying an additional 5,800 shares during the last quarter. Finally, United Capital Financial Advisers LLC boosted its stake in CDK Global by 341.7% in the first quarter. United Capital Financial Advisers LLC now owns 15,097 shares of the software maker’s stock worth $981,000 after buying an additional 11,679 shares during the last quarter. Institutional investors and hedge funds own 83.30% of the company’s stock.
CDK Global, Inc. (CDK) opened at 61.29 on Friday. The firm has a market capitalization 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, Inc. has a one year low of $53.46 and a one year high of $67.49.
CDK Global (NASDAQ:CDK) last released its earnings results on Tuesday, August 1st. The software maker reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. The firm had revenue of $565.40 million for the quarter, compared to the consensus estimate of $556.68 million. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. On average, analysts anticipate that CDK Global, Inc. will post $2.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 11th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, September 8th. CDK Global’s dividend payout ratio is presently 28.00%.
A number of equities research analysts have commented on CDK shares. TheStreet cut shares of CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. Evercore ISI upgraded shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Monday, July 10th. Zacks Investment Research cut shares of CDK Global from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. BidaskClub cut shares of CDK Global from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Finally, Wells Fargo & Company upgraded shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Wednesday, June 21st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $71.75.
In other CDK Global news, insider Brian P. Macdonald bought 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 transaction, the insider now directly owns 96,877 shares of the company’s stock, valued at $5,858,152.19. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by corporate 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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