Russell Investments Group Ltd. Decreases Position in CDK Global Inc (CDK)
Russell Investments Group Ltd. lowered its stake in CDK Global Inc (NASDAQ:CDK) by 69.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,614 shares of the software maker’s stock after selling 17,262 shares during the period. Russell Investments Group Ltd.’s holdings in CDK Global were worth $480,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in CDK. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of CDK Global by 3.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,566 shares of the software maker’s stock worth $2,559,000 after acquiring an additional 1,319 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in CDK Global by 36.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 102,768 shares of the software maker’s stock valued at $6,468,000 after purchasing an additional 27,486 shares during the last quarter. Rhumbline Advisers raised its stake in shares of CDK Global by 9.2% during the third quarter. Rhumbline Advisers now owns 322,982 shares of the software maker’s stock valued at $20,377,000 after acquiring an additional 27,346 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of CDK Global by 0.8% during the third quarter. Toronto Dominion Bank now owns 505,519 shares of the software maker’s stock valued at $31,889,000 after acquiring an additional 3,916 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of CDK Global by 1.5% during the third quarter. New York State Common Retirement Fund now owns 297,900 shares of the software maker’s stock valued at $18,795,000 after acquiring an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 87.45% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. BidaskClub upgraded shares of CDK Global from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. Zacks Investment Research upgraded shares of CDK Global from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Tuesday, October 3rd. TheStreet upgraded shares of 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 shares of CDK Global and gave the stock a “buy” rating in a report on Tuesday, October 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $72.60.
CDK Global Inc (CDK) opened at $71.12 on Friday. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 297.80. CDK Global Inc has a 12-month low of $58.67 and a 12-month high of $72.25. The firm has a market cap of $9,682.67, a PE ratio of 34.52, a P/E/G ratio of 1.58 and a beta of 0.75.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.68 EPS for the quarter, hitting the consensus estimate of $0.68. CDK Global had a net margin of 13.42% and a return on equity of 515.77%. The business had revenue of $565.70 million for the quarter, compared to analyst estimates of $569.28 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. research analysts predict that CDK Global Inc will post 2.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 1st were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.84%. This is a positive change from CDK Global’s previous quarterly dividend of $0.14. CDK Global’s payout ratio is 29.13%.
In other news, VP Jennifer A. Williams sold 1,984 shares of the business’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 sale, the vice president now owns 5,560 shares of the company’s stock, valued at $347,944.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.
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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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