Unigestion Holding SA trimmed its position in shares of CDK Global Inc (NASDAQ:CDK) by 10.7% during the third quarter, HoldingsChannel reports. The fund owned 5,404 shares of the software maker’s stock after selling 645 shares during the quarter. Unigestion Holding SA’s holdings in CDK Global were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently modified their holdings of CDK. BlackRock Inc. increased its stake in shares of CDK Global by 9.6% during the second quarter. BlackRock Inc. now owns 14,995,613 shares of the software maker’s stock worth $741,383,000 after acquiring an additional 1,313,730 shares during the period. LSV Asset Management increased its stake in shares of CDK Global by 673.9% during the second quarter. LSV Asset Management now owns 1,263,000 shares of the software maker’s stock worth $62,442,000 after acquiring an additional 1,099,800 shares during the period. Nuveen Asset Management LLC increased its stake in shares of CDK Global by 4,093.4% during the second quarter. Nuveen Asset Management LLC now owns 808,571 shares of the software maker’s stock worth $39,976,000 after acquiring an additional 789,289 shares during the period. Renaissance Technologies LLC acquired a new position in shares of CDK Global during the second quarter worth about $24,641,000. Finally, Eaton Vance Management acquired a new position in shares of CDK Global during the second quarter worth about $17,926,000. Institutional investors and hedge funds own 80.80% of the company’s stock.
CDK stock traded up $0.79 during trading on Friday, reaching $51.78. 401,900 shares of the company were exchanged, compared to its average volume of 922,132. The company has a market cap of $6.41 billion, a P/E ratio of 16.49, a PEG ratio of 1.57 and a beta of 0.92. The stock’s 50 day moving average price is $48.24 and its 200 day moving average price is $49.37. CDK Global Inc has a 52-week low of $41.50 and a 52-week high of $63.90.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Tuesday, November 5th. The software maker reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.10. The business had revenue of $494.60 million for the quarter, compared to the consensus estimate of $485.00 million. CDK Global had a net margin of 5.32% and a negative return on equity of 75.74%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 earnings per share. Equities analysts expect that CDK Global Inc will post 3.2 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on CDK shares. Barrington Research reiterated a “buy” rating and set a $65.00 price target on shares of CDK Global in a research note on Monday, August 19th. Zacks Investment Research lowered shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub upgraded shares of CDK Global from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, ValuEngine lowered shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. CDK Global currently has a consensus rating of “Hold” and a consensus target price of $64.67.
CDK Global 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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