Brown Advisory Inc. boosted its position in shares of CDK Global, Inc. (NASDAQ:CDK) by 17.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,290 shares of the software maker’s stock after buying an additional 5,357 shares during the period. Brown Advisory Inc.’s holdings in CDK Global were worth $2,226,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of CDK. Russell Investments Group Ltd. increased its stake in CDK Global by 20.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 24,876 shares of the software maker’s stock worth $1,545,000 after buying an additional 4,183 shares in the last quarter. Strs Ohio increased its stake in CDK Global by 52.5% during the 2nd quarter. Strs Ohio now owns 12,933 shares of the software maker’s stock worth $802,000 after buying an additional 4,455 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in CDK Global by 1.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 147,843 shares of the software maker’s stock worth $9,168,000 after buying an additional 1,985 shares in the last quarter. Rothschild Asset Management Inc. increased its stake in CDK Global by 17.6% during the 2nd quarter. Rothschild Asset Management Inc. now owns 7,305 shares of the software maker’s stock worth $453,000 after buying an additional 1,093 shares in the last quarter. Finally, World Asset Management Inc increased its stake in CDK Global by 1.0% during the 2nd quarter. World Asset Management Inc now owns 10,385 shares of the software maker’s stock worth $644,000 after buying an additional 105 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.
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 stock was 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.39% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. 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. TheStreet upgraded CDK Global from a “c+” rating to a “b-” rating in a research report on Thursday, October 19th. Finally, Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Tuesday, October 3rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $72.60.
Shares of CDK Global, Inc. (CDK) opened at $69.30 on Thursday. The company has a debt-to-equity ratio of 297.80, a current ratio of 2.37 and a quick ratio of 2.37. The stock has a market capitalization of $9,564.39, a P/E ratio of 27.59, a PEG ratio of 1.56 and a beta of 0.75. CDK Global, Inc. has a 52-week low of $57.92 and a 52-week high of $69.86.
CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.68 EPS for the quarter, meeting analysts’ consensus estimates of $0.68. CDK Global had a return on equity of 515.77% and a net margin of 13.42%. The firm had revenue of $565.70 million for the quarter, compared to analysts’ expectations of $569.28 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. sell-side analysts predict that CDK Global, Inc. will post 2.97 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This is a boost from CDK Global’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 0.87%. CDK Global’s dividend payout ratio is currently 29.13%.
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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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