Virginia Retirement Systems ET AL Sells 4,900 Shares of CDK Global, Inc. (CDK)

Virginia Retirement Systems ET AL lowered its stake in shares of CDK Global, Inc. (NASDAQ:CDK) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,000 shares of the software maker’s stock after selling 4,900 shares during the period. Virginia Retirement Systems ET AL owned about 0.08% of CDK Global worth $6,827,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its position in shares of CDK Global by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,214 shares of the software maker’s stock valued at $448,000 after buying an additional 19 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in CDK Global by 1.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,979 shares of the software maker’s stock worth $129,000 after buying an additional 23 shares in the last quarter. First Manhattan Co. increased its stake in CDK Global by 0.3% in the first quarter. First Manhattan Co. now owns 11,477 shares of the software maker’s stock worth $658,000 after buying an additional 32 shares in the last quarter. Suntrust Banks Inc. increased its stake in CDK Global by 0.8% in the first quarter. Suntrust Banks Inc. now owns 4,681 shares of the software maker’s stock worth $302,000 after buying an additional 35 shares in the last quarter. Finally, Alpha Windward LLC increased its stake in CDK Global by 2.3% in the second quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock worth $100,000 after buying an additional 36 shares in the last quarter. 81.37% of the stock is owned by institutional investors and hedge funds.

CDK Global, Inc. (NASDAQ:CDK) opened at 62.82 on Friday. CDK Global, Inc. has a 1-year low of $53.46 and a 1-year high of $67.49. The company has a market cap of $8.80 billion, a PE ratio of 31.57 and a beta of 0.74. The stock’s 50 day moving average price is $63.29 and its 200-day moving average price is $63.68.

CDK Global (NASDAQ:CDK) last released its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The business had revenue of $565.40 million during the quarter, compared to analyst estimates of $556.68 million. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. On average, analysts forecast that CDK Global, Inc. will post $2.95 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 11th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, September 8th. CDK Global’s dividend payout ratio is currently 28.00%.

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A number of research firms recently commented on CDK. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. TheStreet upgraded CDK Global from a “d+” rating to a “c” rating in a research report on Monday, May 8th. Zacks Investment Research downgraded CDK Global from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Monday, July 10th. Finally, Wells Fargo & Company upgraded CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Wednesday, June 21st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $71.75.

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.