Gateway Investment Advisers LLC increased its stake in shares of CDK Global, Inc. (NASDAQ:CDK) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,541 shares of the software maker’s stock after buying an additional 521 shares during the period. Gateway Investment Advisers LLC’s holdings in CDK Global were worth $1,771,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in CDK Global by 5,907.6% in the first quarter. BlackRock Inc. now owns 13,196,582 shares of the software maker’s stock valued at $857,910,000 after buying an additional 12,976,917 shares in the last quarter. Findlay Park Partners LLP purchased a new position in CDK Global during the first quarter valued at about $50,383,000. AQR Capital Management LLC increased its position in CDK Global by 191.3% in the first quarter. AQR Capital Management LLC now owns 1,065,874 shares of the software maker’s stock worth $69,292,000 after buying an additional 699,914 shares during the period. Morgan Stanley increased its position in CDK Global by 82.9% in the first quarter. Morgan Stanley now owns 1,383,037 shares of the software maker’s stock worth $89,913,000 after buying an additional 627,062 shares during the period. Finally, Wells Fargo & Company MN increased its position in CDK Global by 175.8% in the first quarter. Wells Fargo & Company MN now owns 787,979 shares of the software maker’s stock worth $51,226,000 after buying an additional 502,276 shares during the period. Institutional investors own 83.30% of the company’s stock.
Shares of CDK Global, Inc. (NASDAQ CDK) traded up 0.11% during trading on Monday, hitting $62.13. The stock had a trading volume of 57,336 shares. The firm has a 50-day moving average of $63.24 and a 200 day moving average of $63.70. CDK Global, Inc. has a 1-year low of $53.46 and a 1-year high of $67.49. The company has a market capitalization of $8.87 billion, a P/E ratio of 31.22 and a beta of 0.74.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The firm had revenue of $565.40 million during the quarter, compared to analyst estimates of $556.68 million. During the same period in the previous year, the business posted $0.49 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities research analysts predict that CDK Global, Inc. will post $2.95 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on CDK. BidaskClub raised CDK Global from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research cut shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. TheStreet upgraded shares of CDK Global from a “d+” rating to a “c” rating in a research report on Monday, May 8th. Wells Fargo & Company upgraded shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Wednesday, June 21st. Finally, Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Monday, July 10th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. CDK Global presently has a consensus rating of “Hold” and an average price target of $71.75.
In related news, insider Brian P. Macdonald purchased 5,000 shares of CDK Global stock in a transaction dated Friday, May 26th. The stock was purchased at an average cost of $60.47 per share, for a total transaction of $302,350.00. Following the completion of the purchase, the insider now directly owns 96,877 shares of the company’s stock, valued at approximately $5,858,152.19. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.
CDK Global Company 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.
Receive News & Ratings for CDK Global Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
