Icon Advisers Inc. Co. lifted its position in shares of CDK Global, Inc. (NASDAQ:CDK) by 507.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 134,300 shares of the software maker’s stock after buying an additional 112,200 shares during the quarter. Icon Advisers Inc. Co. owned approximately 0.09% of CDK Global worth $8,335,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDK. Alpha Windward LLC lifted its stake in shares of CDK Global by 2.3% during the 2nd quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock valued at $100,000 after buying an additional 36 shares in the last quarter. TrimTabs Asset Management LLC lifted its stake in CDK Global by 88.8% in the 1st quarter. TrimTabs Asset Management LLC now owns 1,837 shares of the software maker’s stock worth $119,000 after purchasing an additional 864 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in CDK Global by 1.2% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,979 shares of the software maker’s stock worth $129,000 after purchasing an additional 23 shares in the last quarter. Penserra Capital Management LLC lifted its stake in CDK Global by 9.5% in the 1st quarter. Penserra Capital Management LLC now owns 2,622 shares of the software maker’s stock worth $170,000 after purchasing an additional 228 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. purchased a new stake in CDK Global in the 2nd quarter worth $198,000. Institutional investors own 85.06% of the company’s stock.
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CDK has been the topic of several research analyst reports. TheStreet cut shares of CDK Global from a “c” rating to a “d+” rating in a research note on Tuesday, August 1st. Evercore ISI upgraded shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Monday, July 10th. BidaskClub cut shares of CDK Global from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Zacks Investment Research upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Wells Fargo & Company upgraded shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research note on Wednesday, June 21st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. CDK Global currently has an average rating of “Hold” and a consensus price target of $71.75.
Shares of CDK Global, Inc. (NASDAQ CDK) traded up 0.188% during mid-day trading on Wednesday, reaching $61.385. 156,313 shares of the company’s stock traded hands. The company has a market cap of $8.60 billion, a P/E ratio of 30.847 and a beta of 0.75. The company’s 50 day moving average is $63.20 and its 200 day moving average is $63.50. CDK Global, Inc. has a 12-month low of $53.46 and a 12-month high of $67.49.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The business had revenue of $565.40 million for the quarter, compared to the consensus estimate of $556.68 million. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. On average, analysts predict that CDK Global, Inc. will post $2.95 EPS for the current fiscal 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 0.91%. The ex-dividend date of this dividend is Friday, September 8th. CDK Global’s payout ratio is 28.00%.
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.
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