Prudential Financial Inc. Buys 17,596 Shares of CDK Global Inc (CDK)
Prudential Financial Inc. raised its stake in CDK Global Inc (NASDAQ:CDK) by 1.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,005,135 shares of the software maker’s stock after buying an additional 17,596 shares during the quarter. Prudential Financial Inc. owned approximately 0.73% of CDK Global worth $63,414,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of CDK. Macquarie Group Ltd. bought a new stake in CDK Global in the third quarter valued at $145,000. D.A. Davidson & CO. lifted its stake in CDK Global by 5.6% in the second quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock valued at $194,000 after buying an additional 167 shares during the last quarter. Associated Banc Corp lifted its stake in CDK Global by 4.7% in the second quarter. Associated Banc Corp now owns 3,965 shares of the software maker’s stock valued at $246,000 after buying an additional 179 shares during the last quarter. IFM Investors Pty Ltd bought a new stake in CDK Global in the third quarter valued at $275,000. Finally, Boothbay Fund Management LLC bought a new stake in CDK Global in the third quarter valued at $321,000. Institutional investors own 87.45% of the company’s stock.
A number of equities research analysts have issued reports on CDK shares. Zacks Investment Research cut CDK Global from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. BidaskClub cut CDK Global from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. TheStreet upgraded CDK Global from a “c+” rating to a “b-” rating in a research note on Thursday, October 19th. Finally, Barrington Research set a $75.00 price target on CDK Global and gave the company a “buy” rating in a report on Tuesday, October 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $72.60.
CDK Global Inc (CDK) opened at $71.21 on Friday. The company has a market capitalization of $9,800.00, a price-to-earnings ratio of 34.57, a PEG ratio of 1.58 and a beta of 0.78. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 297.80. CDK Global Inc has a fifty-two week low of $58.67 and a fifty-two week high of $72.25.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.68 EPS for the quarter, meeting analysts’ consensus estimates of $0.68. The company had revenue of $565.70 million for the quarter, compared to analyst estimates of $569.28 million. CDK Global had a return on equity of 515.77% and a net margin of 13.42%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. sell-side analysts predict that CDK Global Inc will post 2.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 1st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. This is a positive change from CDK Global’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, November 30th. CDK Global’s dividend payout ratio (DPR) is 29.13%.
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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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