California State Teachers Retirement System Reduces Position in CDK Global Inc (CDK)

California State Teachers Retirement System lowered its position in CDK Global Inc (NASDAQ:CDK) by 5.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 198,449 shares of the software maker’s stock after selling 11,073 shares during the period. California State Teachers Retirement System owned 0.15% of CDK Global worth $12,570,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in CDK Global by 2.9% during the fourth quarter. Wells Fargo & Company MN now owns 554,503 shares of the software maker’s stock worth $39,524,000 after purchasing an additional 15,866 shares during the period. Xact Kapitalforvaltning AB boosted its position in CDK Global by 2.9% during the fourth quarter. Xact Kapitalforvaltning AB now owns 31,886 shares of the software maker’s stock worth $2,273,000 after purchasing an additional 889 shares during the period. Thames Capital Management LLC bought a new stake in CDK Global during the fourth quarter worth approximately $4,804,000. Vident Investment Advisory LLC boosted its position in CDK Global by 31.5% during the fourth quarter. Vident Investment Advisory LLC now owns 7,376 shares of the software maker’s stock worth $526,000 after purchasing an additional 1,769 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in CDK Global during the fourth quarter worth approximately $677,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

CDK opened at $66.08 on Monday. CDK Global Inc has a 1-year low of $60.28 and a 1-year high of $76.04. 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 capitalization of $8.67 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 2.15 and a beta of 0.75.



CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Thursday, April 26th. The software maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. CDK Global had a negative return on equity of 361.64% and a net margin of 14.99%. The company had revenue of $576.60 million during the quarter, compared to analysts’ expectations of $578.11 million. During the same period in the prior year, the business earned $0.65 earnings per share. CDK Global’s revenue for the quarter was up 3.6% compared to the same quarter last year. sell-side analysts predict that CDK Global Inc will post 3.06 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Tuesday, June 19th will be given a $0.15 dividend. The ex-dividend date is Monday, June 18th. This represents a $0.60 annualized dividend and a dividend yield of 0.91%. CDK Global’s dividend payout ratio is 24.69%.

A number of brokerages have issued reports on CDK. Zacks Investment Research cut CDK Global from a “hold” rating to a “sell” rating in a research report on Monday, June 18th. Barrington Research reaffirmed a “hold” rating on shares of CDK Global in a research report on Monday, March 26th. BidaskClub raised CDK Global from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 16th. ValuEngine raised CDK Global from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. Finally, Morgan Stanley decreased their target price on CDK Global from $77.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, April 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $75.80.

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.

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

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