Virginia Retirement Systems ET AL Increases Position in CDK Global, Inc. (CDK)
Virginia Retirement Systems ET AL boosted its position in CDK Global, Inc. (NASDAQ:CDK) by 6.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 116,600 shares of the software maker’s stock after acquiring an additional 6,600 shares during the period. Virginia Retirement Systems ET AL owned 0.08% of CDK Global worth $7,356,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in CDK. Macquarie Group Ltd. bought a new stake in shares of CDK Global during the third quarter valued at about $145,000. D.A. Davidson & CO. increased its position in shares of CDK Global by 5.6% during the second quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock valued at $194,000 after buying an additional 167 shares during the period. Pinnacle Financial Partners Inc. bought a new stake in shares of CDK Global during the second quarter valued at about $198,000. TrimTabs Asset Management LLC increased its position in shares of CDK Global by 105.0% during the second quarter. TrimTabs Asset Management LLC now owns 3,766 shares of the software maker’s stock valued at $234,000 after buying an additional 1,929 shares during the period. Finally, Associated Banc Corp increased its position in shares of CDK Global by 4.7% during the second quarter. Associated Banc Corp now owns 3,965 shares of the software maker’s stock valued at $246,000 after buying an additional 179 shares during the period. Institutional investors and hedge funds own 86.72% of the company’s stock.
Shares of CDK Global, Inc. (CDK) opened at $69.01 on Thursday. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 297.80. The firm has a market capitalization of $9,554.76, a PE ratio of 27.57, a PEG ratio of 1.56 and a beta of 0.72. CDK Global, Inc. has a 52-week low of $56.50 and a 52-week high of $69.86.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.68 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. The company had revenue of $565.70 million for the quarter, compared to analysts’ expectations of $569.28 million. CDK Global had a net margin of 13.42% and a return on equity of 515.77%. CDK Global’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. sell-side analysts predict that CDK Global, Inc. will post 2.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.87%. This is a boost from CDK Global’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, November 30th. CDK Global’s dividend payout ratio is 27.18%.
Several brokerages have recently weighed in on CDK. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Tuesday, October 3rd. TheStreet upgraded CDK Global from a “c+” rating to a “b-” rating in a research report on Thursday, October 19th. Finally, Barrington Research set a $75.00 price target on CDK Global and gave the company a “buy” rating in a research report on Tuesday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.60.
In related news, VP Jennifer A. Williams sold 1,984 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $62.58, for a total value of $124,158.72. Following the transaction, the vice president now directly owns 5,560 shares in the company, valued at $347,944.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.39% of the stock is currently owned by corporate insiders.
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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