Amalgamated Bank raised its position in CDK Global Inc (NASDAQ:CDK) by 5.0% in the 4th quarter, Holdings Channel reports. The firm owned 16,201 shares of the software maker’s stock after buying an additional 768 shares during the period. Amalgamated Bank’s holdings in CDK Global were worth $1,155,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Mackenzie Financial Corp acquired a new stake in shares of CDK Global in the fourth quarter valued at about $677,000. Overbrook Management Corp acquired a new stake in shares of CDK Global in the fourth quarter valued at about $203,000. Spark Investment Management LLC increased its stake in shares of CDK Global by 51.0% in the fourth quarter. Spark Investment Management LLC now owns 84,400 shares of the software maker’s stock valued at $6,016,000 after buying an additional 28,500 shares during the period. Eaton Vance Management increased its stake in shares of CDK Global by 89.6% in the fourth quarter. Eaton Vance Management now owns 43,758 shares of the software maker’s stock valued at $3,119,000 after buying an additional 20,679 shares during the period. Finally, State of Tennessee Treasury Department increased its stake in shares of CDK Global by 28.6% in the fourth quarter. State of Tennessee Treasury Department now owns 90,000 shares of the software maker’s stock valued at $6,415,000 after buying an additional 20,000 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.
Several brokerages have recently weighed in on CDK. Barrington Research cut CDK Global from an “outperform” rating to a “market perform” rating and set a $75.00 price target for the company. in a research note on Wednesday, January 17th. They noted that the move was a valuation call. Zacks Investment Research raised CDK Global from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Wednesday, January 31st. Wells Fargo & Co reaffirmed an “outperform” rating and set a $80.00 target price (up previously from $75.00) on shares of CDK Global in a research note on Wednesday, January 31st. Morgan Stanley raised their target price on CDK Global from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Finally, BidaskClub cut CDK Global from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $76.80.
CDK Global (NASDAQ:CDK) last released its earnings results on Tuesday, January 30th. The software maker reported $0.87 EPS for the quarter, topping the consensus estimate of $0.70 by $0.17. CDK Global had a negative return on equity of 5,261.95% and a net margin of 14.29%. The business had revenue of $561.70 million during the quarter, compared to analysts’ expectations of $564.94 million. During the same quarter last year, the firm posted $0.55 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. analysts forecast that CDK Global Inc will post 3.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 1st will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.85%. CDK Global’s dividend payout ratio is currently 28.57%.
In other CDK Global news, EVP Scott L. Mathews sold 5,514 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $68.91, for a total value of $379,969.74. Following the transaction, the executive vice president now owns 48,520 shares in the company, valued at $3,343,513.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Rajiv K. Amar sold 1,968 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $69.85, for a total value of $137,464.80. Following the completion of the transaction, the insider now owns 11,072 shares in the company, valued at approximately $773,379.20. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.
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CDK Global Profile
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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