Burney Co. Takes $246,000 Position in CDK Global (CDK)

Burney Co. acquired a new stake in CDK Global (NASDAQ:CDK) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,881 shares of the software maker’s stock, valued at approximately $246,000.

A number of other institutional investors have also recently made changes to their positions in CDK. Amundi Pioneer Asset Management Inc. acquired a new position in CDK Global in the fourth quarter valued at approximately $24,174,000. Schroder Investment Management Group boosted its stake in CDK Global by 16,000.0% in the fourth quarter. Schroder Investment Management Group now owns 322,000 shares of the software maker’s stock valued at $22,952,000 after acquiring an additional 320,000 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in CDK Global by 82.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 646,030 shares of the software maker’s stock valued at $40,920,000 after acquiring an additional 291,925 shares during the period. Two Sigma Advisers LP boosted its stake in CDK Global by 50.5% in the fourth quarter. Two Sigma Advisers LP now owns 862,600 shares of the software maker’s stock valued at $61,486,000 after acquiring an additional 289,400 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in CDK Global by 18,000.0% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 199,100 shares of the software maker’s stock valued at $251,000 after acquiring an additional 198,000 shares during the period. 87.59% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ CDK opened at $63.99 on Friday. The company has a debt-to-equity ratio of -9.65, a current ratio of 1.80 and a quick ratio of 1.80. The company has a market cap of $8.50 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 2.00 and a beta of 0.77. CDK Global has a 12-month low of $59.33 and a 12-month high of $76.04.

CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Thursday, April 26th. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The business had revenue of $576.60 million during the quarter, compared to the consensus estimate of $578.11 million. CDK Global had a negative return on equity of 361.64% and a net margin of 14.99%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. analysts predict that CDK Global will post 3.23 earnings per share for the current year.

CDK has been the subject of a number of research reports. BidaskClub downgraded CDK Global from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Zacks Investment Research upgraded 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. Morgan Stanley lifted their target price on CDK Global from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Wells Fargo restated an “outperform” rating and issued a $80.00 target price (up from $75.00) on shares of CDK Global in a research note on Wednesday, January 31st. Finally, Barrington Research restated a “hold” rating on shares of CDK Global in a research note on Monday, March 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $74.80.

In other news, EVP Scott L. Mathews sold 5,514 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $68.91, for a total transaction of $379,969.74. Following the completion of the transaction, the executive vice president now directly owns 48,520 shares in the company, valued at $3,343,513.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rajiv K. Amar sold 1,968 shares of the business’s 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 transaction, the insider now owns 11,072 shares of the company’s stock, valued at $773,379.20. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

CDK Global Company Profile

CDK Global, Inc provides integrated information technology and digital marketing solutions to the automotive retail and other industries worldwide. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. It offers technology-based solutions, including automotive Website platforms; and advertising solutions comprising the management of digital advertising spend for original equipment manufacturers and automotive retailers.

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

Receive News & Ratings for CDK Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply