Koch Industries Inc. lifted its holdings in shares of CDK Global, Inc. (NASDAQ:CDK) by 13,261.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,136,278 shares of the software maker’s stock after buying an additional 1,127,774 shares during the quarter. CDK Global comprises approximately 0.3% of Koch Industries Inc.’s investment portfolio, making the stock its 29th biggest holding. Koch Industries Inc. owned about 0.81% of CDK Global worth $1,118,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Alpha Windward LLC grew its holdings in CDK Global by 2.3% during the second quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock valued at $100,000 after purchasing an additional 36 shares during the period. D.A. Davidson & CO. grew its holdings in 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 purchasing an additional 167 shares during the period. Pinnacle Financial Partners Inc. acquired a new position in CDK Global during the second quarter valued at approximately $198,000. North American Management Corp grew its holdings in CDK Global by 6.3% during the second quarter. North American Management Corp now owns 3,342 shares of the software maker’s stock valued at $207,000 after purchasing an additional 199 shares during the period. Finally, RiverPoint Capital Management LLC acquired a new position in CDK Global during the first quarter valued at approximately $221,000. Institutional investors own 85.01% of the company’s stock.
Shares of CDK Global, Inc. (NASDAQ CDK) traded up 0.08% on Friday, reaching $65.01. 204,073 shares of the company’s stock were exchanged. CDK Global, Inc. has a 52-week low of $53.46 and a 52-week high of $67.49. The company’s 50 day moving average price is $63.17 and its 200-day moving average price is $63.03. The stock has a market cap of $9.11 billion, a P/E ratio of 32.67 and a beta of 0.73.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.55 earnings per share (EPS) for the quarter, beating 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 business had revenue of $565.40 million during the quarter, compared to the consensus estimate of $556.68 million. During the same quarter last year, the firm posted $0.49 EPS. CDK Global’s revenue was up 4.3% compared to the same quarter last year. Equities analysts forecast that CDK Global, Inc. will post $2.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 11th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, September 8th. CDK Global’s payout ratio is currently 28.00%.
A number of research analysts recently issued reports on the stock. 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 report on Tuesday, October 3rd. BidaskClub upgraded shares of CDK Global from a “hold” rating to a “buy” rating in a report on Wednesday. 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. TheStreet cut shares of CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. Finally, 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. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $72.00.
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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