Mengis Capital Management Inc. purchased a new stake in CDK Global Inc (NASDAQ:CDK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,056 shares of the software maker’s stock, valued at approximately $249,000.

Other hedge funds have also modified their holdings of the company. First Republic Investment Management Inc. increased its stake in shares of CDK Global by 24.3% during the 1st quarter. First Republic Investment Management Inc. now owns 20,611 shares of the software maker’s stock worth $1,212,000 after purchasing an additional 4,029 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of CDK Global by 8.5% during the 1st quarter. Wells Fargo & Company MN now owns 1,745,667 shares of the software maker’s stock worth $102,680,000 after purchasing an additional 136,759 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of CDK Global by 27.2% during the 1st quarter. Rockefeller Capital Management L.P. now owns 7,476 shares of the software maker’s stock worth $440,000 after purchasing an additional 1,597 shares during the last quarter. FIL Ltd increased its stake in shares of CDK Global by 675.1% during the 1st quarter. FIL Ltd now owns 216,137 shares of the software maker’s stock worth $12,713,000 after purchasing an additional 188,252 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its stake in shares of CDK Global by 197.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 445,287 shares of the software maker’s stock worth $26,192,000 after purchasing an additional 295,353 shares during the last quarter. Hedge funds and other institutional investors own 81.87% of the company’s stock.

Shares of CDK stock opened at $53.09 on Tuesday. The company has a market cap of $6.53 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.39 and a beta of 0.85. The business’s 50-day moving average is $50.26. CDK Global Inc has a 52 week low of $44.01 and a 52 week high of $64.77.

CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.08. The firm had revenue of $602.10 million during the quarter, compared to the consensus estimate of $596.47 million. CDK Global had a net margin of 16.34% and a negative return on equity of 113.53%. During the same quarter in the previous year, the firm posted $0.85 EPS. As a group, equities research analysts forecast that CDK Global Inc will post 3.62 EPS for the current year.

CDK has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a report on Monday, May 6th. Barrington Research reaffirmed a “buy” rating and set a $6.50 target price on shares of CLEAR CHANNEL O/SH in a report on Monday, April 29th. BidaskClub raised shares of Zebra Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. Finally, ValuEngine raised shares of Yirendai from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $67.75.

In other CDK Global news, General Counsel Lee J. Brunz sold 1,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $50.74, for a total value of $50,740.00. Following the completion of the sale, the general counsel now owns 37,927 shares of the company’s stock, valued at approximately $1,924,415.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

About CDK Global

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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Institutional Ownership by Quarter for CDK Global (NASDAQ:CDK)

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