10,078 Shares in CDK Global Inc (CDK) Purchased by Caxton Associates LP
Caxton Associates LP bought a new stake in CDK Global Inc (NASDAQ:CDK) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 10,078 shares of the software maker’s stock, valued at approximately $483,000.
A number of other institutional investors also recently modified their holdings of CDK. Bruderman Asset Management LLC grew its position in shares of CDK Global by 722.7% in the fourth quarter. Bruderman Asset Management LLC now owns 543 shares of the software maker’s stock valued at $26,000 after purchasing an additional 477 shares during the last quarter. CX Institutional acquired a new stake in shares of CDK Global in the fourth quarter valued at approximately $27,000. Essex Investment Management Co. LLC acquired a new stake in shares of CDK Global in the fourth quarter valued at approximately $30,000. Laurel Wealth Advisors LLC acquired a new stake in shares of CDK Global in the fourth quarter valued at approximately $32,000. Finally, Oregon Public Employees Retirement Fund grew its position in shares of CDK Global by 4,688.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,470,752 shares of the software maker’s stock valued at $52,000 after purchasing an additional 2,419,149 shares during the last quarter. 80.76% of the stock is owned by institutional investors.
Several analysts have recently commented on the stock. BidaskClub upgraded shares of CDK Global from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Oppenheimer set a $67.00 price target on shares of CDK Global and gave the company a “buy” rating in a research report on Tuesday, February 5th. Finally, Zacks Investment Research upgraded shares of CDK Global from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Friday, February 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $67.25.
CDK Global (NASDAQ:CDK) last released its quarterly earnings results on Tuesday, February 5th. The software maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.86 by $0.12. CDK Global had a net margin of 16.36% and a negative return on equity of 135.00%. The business had revenue of $590.40 million for the quarter, compared to analyst estimates of $578.91 million. During the same period in the prior year, the business earned $0.87 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts predict that CDK Global Inc will post 3.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 1.03%. CDK Global’s dividend payout ratio (DPR) is currently 19.74%.
CDK Global Company Profile
CDK Global, Inc provides software and technology solutions for automotive retailers in the United States and internationally. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. The company offers Dealer Management System (DMS), a portfolio of layered software applications and services for automotive retailers, original equipment manufacturers (OEMs), consumers, and other industry participants manage the acquisition, sale, financing, insuring, parts supply, and repair and maintenance of vehicles.
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