Martingale Asset Management L P raised its stake in CDK Global, Inc. (NASDAQ:CDK) by 22.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 522,164 shares of the company’s stock after buying an additional 95,502 shares during the period. Martingale Asset Management L P owned 0.36% of CDK Global worth $31,169,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Ridge Capital L.L.C. raised its position in CDK Global by 0.4% in the second quarter. Blue Ridge Capital L.L.C. now owns 6,158,000 shares of the company’s stock valued at $341,707,000 after buying an additional 26,400 shares during the period. BlackRock Fund Advisors raised its position in CDK Global by 0.8% in the third quarter. BlackRock Fund Advisors now owns 5,998,095 shares of the company’s stock valued at $344,051,000 after buying an additional 48,674 shares during the period. Credit Suisse AG raised its position in CDK Global by 0.9% in the third quarter. Credit Suisse AG now owns 4,054,786 shares of the company’s stock valued at $232,582,000 after buying an additional 38,055 shares during the period. Iridian Asset Management LLC CT raised its position in CDK Global by 19.5% in the fourth quarter. Iridian Asset Management LLC CT now owns 3,625,090 shares of the company’s stock valued at $216,382,000 after buying an additional 592,390 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of CDK Global by 4.1% in the third quarter. Principal Financial Group Inc. now owns 2,365,159 shares of the company’s stock valued at $135,666,000 after buying an additional 93,333 shares in the last quarter. 82.92% of the stock is owned by hedge funds and other institutional investors.
Shares of CDK Global, Inc. (NASDAQ:CDK) traded up 0.57% during trading on Monday, hitting $65.56. The stock had a trading volume of 714,218 shares. The firm has a market cap of $9.51 billion, a PE ratio of 37.19 and a beta of 0.72. CDK Global, Inc. has a 52-week low of $41.55 and a 52-week high of $65.62. The stock has a 50 day moving average of $61.54 and a 200 day moving average of $58.30.
CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Thursday, February 2nd. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. The business had revenue of $547.80 million for the quarter, compared to the consensus estimate of $545.74 million. CDK Global had a net margin of 12.47% and a return on equity of 83.46%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. On average, equities analysts anticipate that CDK Global, Inc. will post $2.37 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 29th. Investors of record on Wednesday, March 1st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Monday, February 27th. CDK Global’s dividend payout ratio (DPR) is presently 31.64%.
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Several analysts have recently commented on CDK shares. TheStreet upgraded CDK Global from a “hold” rating to a “buy” rating in a research note on Wednesday, November 2nd. Zacks Investment Research downgraded CDK Global from a “buy” rating to a “hold” rating in a research note on Tuesday, January 3rd. Finally, Morgan Stanley upgraded CDK Global from an “underweight” rating to an “equal weight” rating and set a $70.00 price target for the company in a research note on Friday, February 3rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $64.00.
About CDK Global
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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