Credit Suisse AG raised its stake in shares of CDK Global Inc (NASDAQ:CDK) by 4.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 191,790 shares of the software maker’s stock after buying an additional 8,547 shares during the period. Credit Suisse AG’s holdings in CDK Global were worth $11,998,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in CDK. WealthTrust Fairport LLC acquired a new position in CDK Global during the 3rd quarter valued at about $104,000. Qube Research & Technologies Ltd acquired a new position in CDK Global during the 2nd quarter valued at about $109,000. Fort L.P. acquired a new position in CDK Global during the 2nd quarter valued at about $121,000. Itau Unibanco Holding S.A. acquired a new position in CDK Global during the 2nd quarter valued at about $170,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in CDK Global during the 3rd quarter valued at about $179,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have commented on CDK shares. Barrington Research reissued a “buy” rating and set a $80.00 target price on shares of CDK Global in a research note on Monday, August 13th. Oppenheimer set a $67.00 target price on shares of CDK Global and gave the company a “buy” rating in a research note on Wednesday, November 7th. TheStreet cut shares of CDK Global from a “b-” rating to a “c+” rating in a research note on Wednesday, November 14th. Morgan Stanley lowered their price objective on shares of CDK Global from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 15th. Finally, Zacks Investment Research raised shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $72.20.

Shares of CDK opened at $47.98 on Friday. The company has a market capitalization of $6.34 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.37 and a beta of 0.72. CDK Global Inc has a 12-month low of $47.67 and a 12-month high of $76.04.

CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Wednesday, November 7th. The software maker reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.06. The company had revenue of $554.50 million for the quarter, compared to analysts’ expectations of $560.52 million. CDK Global had a net margin of 17.23% and a negative return on equity of 173.86%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. Research analysts expect that CDK Global Inc will post 3.59 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be paid a $0.15 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.25%. CDK Global’s dividend payout ratio is currently 19.74%.

In other news, General Counsel Lee J. Brunz bought 2,500 shares of the company’s stock in a transaction dated Friday, November 9th. The shares were acquired at an average cost of $50.96 per share, with a total value of $127,400.00. Following the completion of the transaction, the general counsel now directly owns 39,427 shares in the company, valued at approximately $2,009,199.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joseph A. Tautges bought 7,900 shares of the company’s stock in a transaction dated Friday, November 9th. The stock was purchased at an average cost of $50.68 per share, for a total transaction of $400,372.00. Following the completion of the transaction, the chief financial officer now owns 25,594 shares of the company’s stock, valued at $1,297,103.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

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CDK Global Profile

CDK Global, Inc provides software and technology solutions for automotive retailers in the United States and internationally. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. The company offers Dealer Management System (DMS), a portfolio of layered software applications and services for automotive retailers, original equipment manufacturers (OEMs), consumers, and other industry participants manage the acquisition, sale, financing, insuring, parts supply, and repair and maintenance of vehicles.

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Institutional Ownership by Quarter for CDK Global (NASDAQ:CDK)

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