Quantbot Technologies LP Has $1.90 Million Position in CDK Global, Inc. (CDK)
Quantbot Technologies LP lifted its holdings in CDK Global, Inc. (NASDAQ:CDK) by 96.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,579 shares of the software maker’s stock after acquiring an additional 15,007 shares during the period. Quantbot Technologies LP’s holdings in CDK Global were worth $1,897,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Alpha Windward LLC lifted its holdings in shares of CDK Global by 2.3% in the 2nd quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock valued at $100,000 after acquiring an additional 36 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of CDK Global by 1.2% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,979 shares of the software maker’s stock valued at $129,000 after acquiring an additional 23 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of CDK Global by 9.5% in the 1st quarter. Penserra Capital Management LLC now owns 2,622 shares of the software maker’s stock valued at $170,000 after acquiring an additional 228 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of CDK Global by 5.6% in the 2nd quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock valued at $194,000 after acquiring an additional 167 shares during the last quarter. Finally, Spinnaker Trust bought a new position in shares of CDK Global in the 1st quarter valued at about $205,000. 85.01% of the stock is owned by hedge funds and other institutional investors.
Shares of CDK Global, Inc. (NASDAQ:CDK) opened at 63.12 on Friday. CDK Global, Inc. has a 52 week low of $53.46 and a 52 week high of $67.49. The company has a market cap of $8.84 billion, a P/E ratio of 31.72 and a beta of 0.75. The firm has a 50-day moving average of $62.40 and a 200 day moving average of $63.27.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings data 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 analyst estimates of $556.68 million. During the same period in the prior year, the business posted $0.49 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts expect that CDK Global, Inc. will post $2.95 EPS for the current fiscal year.
The business also recently disclosed 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. The ex-dividend date is Friday, September 8th. This represents a $0.56 annualized dividend and a dividend yield of 0.89%. CDK Global’s dividend payout ratio is currently 28.00%.
A number of research analysts recently commented on the stock. Wells Fargo & Company raised shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Wednesday, June 21st. BidaskClub downgraded shares of CDK Global from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. Zacks Investment Research downgraded shares of CDK Global from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Evercore ISI raised shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Monday, July 10th. Finally, TheStreet downgraded shares of CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $71.75.
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CDK Global 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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