Louisiana State Employees Retirement System cut its position in CDK Global Inc (NASDAQ:CDK) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,400 shares of the software maker’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in CDK Global were worth $1,965,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. Boston Partners grew its position in shares of CDK Global by 4.7% in the 4th quarter. Boston Partners now owns 3,217,824 shares of the software maker’s stock valued at $154,069,000 after buying an additional 144,881 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of CDK Global by 4,688.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,470,752 shares of the software maker’s stock valued at $52,000 after buying an additional 2,419,149 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of CDK Global by 3.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,434,421 shares of the software maker’s stock valued at $152,298,000 after buying an additional 90,332 shares during the last quarter. Lakewood Capital Management LP grew its position in shares of CDK Global by 55.2% in the 4th quarter. Lakewood Capital Management LP now owns 2,109,717 shares of the software maker’s stock valued at $101,013,000 after buying an additional 750,000 shares during the last quarter. Finally, FMR LLC grew its position in shares of CDK Global by 16.6% in the 4th quarter. FMR LLC now owns 1,968,049 shares of the software maker’s stock valued at $94,231,000 after buying an additional 280,108 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.
CDK has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Friday, January 11th. Oppenheimer set a $67.00 target price on shares of CDK Global and gave the company a “buy” rating in a research report on Tuesday, February 5th. BidaskClub downgraded shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Finally, ValuEngine raised shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Monday, March 25th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. CDK Global currently has a consensus rating of “Hold” and a consensus target price of $67.25.
NASDAQ CDK opened at $59.92 on Tuesday. The firm has a market capitalization of $7.44 billion, a P/E ratio of 19.71 and a beta of 0.72. CDK Global Inc has a 12 month low of $44.01 and a 12 month high of $67.97.
CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, February 5th. The software maker reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.12. The firm had revenue of $590.40 million for the quarter, compared to the consensus estimate of $578.91 million. CDK Global had a net margin of 16.36% and a negative return on equity of 135.00%. The company’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $0.87 EPS. As a group, research analysts predict that CDK Global Inc will post 3.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, February 28th. CDK Global’s dividend payout ratio is currently 19.74%.
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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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