BB&T Corp purchased a new position in CDK Global Inc (NASDAQ:CDK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,917 shares of the software maker’s stock, valued at approximately $208,000.
Other hedge funds also recently bought and sold shares of the company. Macquarie Group Ltd. purchased a new position in CDK Global in the 3rd quarter worth about $145,000. Bredin Investment LLC purchased a new position in CDK Global during the 4th quarter valued at about $203,000. Atlas Brown Inc. purchased a new position in CDK Global during the 4th quarter valued at about $214,000. North American Management Corp purchased a new position in CDK Global during the 4th quarter valued at about $224,000. Finally, IFM Investors Pty Ltd purchased a new position in CDK Global during the 3rd quarter valued at about $275,000. 89.62% of the stock is currently owned by institutional investors.
A number of research analysts have commented on the stock. Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Wednesday, January 31st. BidaskClub downgraded shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Morgan Stanley raised their target price on shares of CDK Global from $76.00 to $77.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Wells Fargo & Co reissued an “outperform” rating and set a $80.00 target price (up previously from $75.00) on shares of CDK Global in a research report on Wednesday, January 31st. Finally, Barrington Research downgraded shares of CDK Global from an “outperform” rating to a “market perform” rating and set a $75.00 target price on the stock. in a research report on Wednesday, January 17th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $76.80.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.17. CDK Global had a net margin of 14.29% and a negative return on equity of 5,261.95%. The firm had revenue of $561.70 million for the quarter, compared to the consensus estimate of $564.94 million. During the same quarter in the previous year, the firm earned $0.55 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. research analysts forecast that CDK Global Inc will post 3.26 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 1st will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Wednesday, February 28th. CDK Global’s payout ratio is currently 26.55%.
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About CDK Global
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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