Blue Ridge Capital L.L.C. lowered its position in CDK Global, Inc. (NASDAQ:CDK) by 8.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,086,100 shares of the software maker’s stock after selling 464,300 shares during the period. CDK Global makes up about 4.3% of Blue Ridge Capital L.L.C.’s investment portfolio, making the stock its 5th largest position. Blue Ridge Capital L.L.C. owned 3.50% of CDK Global worth $330,647,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the company. TrimTabs Asset Management LLC raised its position in shares of CDK Global by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 1,837 shares of the software maker’s stock worth $119,000 after buying an additional 864 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in shares of CDK Global by 1.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,979 shares of the software maker’s stock worth $129,000 after buying an additional 23 shares during the period. Acrospire Investment Management LLC raised its position in shares of CDK Global by 17.6% in the first quarter. Acrospire Investment Management LLC now owns 2,000 shares of the software maker’s stock worth $130,000 after buying an additional 300 shares during the period. Pinnacle Bank acquired a new position in shares of CDK Global during the first quarter worth approximately $137,000. Finally, Penserra Capital Management LLC raised its position in shares of CDK Global by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,622 shares of the software maker’s stock worth $170,000 after buying an additional 228 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.
Shares of CDK Global, Inc. (CDK) opened at 64.30 on Tuesday. The company has a market capitalization of $9.34 billion, a PE ratio of 32.89 and a beta of 0.73. The firm has a 50-day moving average price of $61.74 and a 200-day moving average price of $63.04. CDK Global, Inc. has a 12 month low of $53.46 and a 12 month high of $67.49.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Tuesday, May 2nd. The software maker reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.08. The company had revenue of $556.30 million during the quarter, compared to analysts’ expectations of $556.98 million. CDK Global had a return on equity of 126.04% and a net margin of 13.44%. CDK Global’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 EPS. On average, equities research analysts predict that CDK Global, Inc. will post $2.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Tuesday, June 20th were given a dividend of $0.14 per share. The ex-dividend date was Friday, June 16th. This represents a $0.56 annualized dividend and a dividend yield of 0.87%. CDK Global’s payout ratio is 28.57%.
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A number of research analysts have recently commented on the company. Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Monday, July 10th. Zacks Investment Research lowered CDK Global from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Wells Fargo & Company upgraded CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Wednesday, June 21st. Finally, TheStreet upgraded CDK Global from a “d+” rating to a “c” rating in a research note on Monday, May 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $71.75.
In other CDK Global news, insider Brian P. Macdonald bought 5,000 shares of CDK Global stock in a transaction dated Friday, May 26th. The stock was bought at an average cost of $60.47 per share, with a total value of $302,350.00. Following the completion of the acquisition, the insider now directly owns 96,877 shares in the company, valued at approximately $5,858,152.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by corporate insiders.
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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