Rikoon Group LLC lifted its stake in shares of CDK Global Inc (NASDAQ:CDK) by 23.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,873 shares of the software maker’s stock after purchasing an additional 1,102 shares during the quarter. Rikoon Group LLC’s holdings in CDK Global were worth $366,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of CDK Global by 2.9% during the fourth quarter. Wells Fargo & Company MN now owns 554,503 shares of the software maker’s stock valued at $39,524,000 after purchasing an additional 15,866 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in CDK Global by 2.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 31,886 shares of the software maker’s stock worth $2,273,000 after acquiring an additional 889 shares in the last quarter. Thames Capital Management LLC bought a new stake in CDK Global in the fourth quarter worth about $4,804,000. Vident Investment Advisory LLC raised its position in CDK Global by 31.5% in the fourth quarter. Vident Investment Advisory LLC now owns 7,376 shares of the software maker’s stock worth $526,000 after acquiring an additional 1,769 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in CDK Global in the fourth quarter worth about $677,000. Institutional investors and hedge funds own 84.08% of the company’s stock.
CDK has been the topic of several research reports. Zacks Investment Research upgraded shares of CDK Global from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Friday, April 27th. Morgan Stanley dropped their price target on shares of CDK Global from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, April 27th. Barrington Research reiterated a “hold” rating on shares of CDK Global in a research report on Thursday, April 26th. ValuEngine upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. Finally, BidaskClub upgraded shares of CDK Global from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 16th. Two investment analysts have 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 stock presently has an average rating of “Hold” and an average target price of $75.80.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Thursday, April 26th. The software maker reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. The firm had revenue of $576.60 million for the quarter, compared to analysts’ expectations of $578.11 million. CDK Global had a negative return on equity of 361.64% and a net margin of 14.99%. CDK Global’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. equities analysts forecast that CDK Global Inc will post 3.06 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Tuesday, June 19th will be paid a $0.15 dividend. The ex-dividend date is Monday, June 18th. This represents a $0.60 dividend on an annualized basis and a yield of 0.91%. CDK Global’s dividend payout ratio is currently 24.69%.
About CDK Global
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.
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