Neuburgh Advisers LLC boosted its position in CDK Global, Inc. (NASDAQ:CDK) by 9.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 4,976 shares of the software maker’s stock after buying an additional 416 shares during the period. Neuburgh Advisers LLC’s holdings in CDK Global were worth $323,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of CDK Global during the fourth quarter valued at $65,428,000. Iridian Asset Management LLC CT raised its position in shares of CDK Global by 19.5% in the fourth quarter. Iridian Asset Management LLC CT now owns 3,625,090 shares of the software maker’s stock valued at $216,382,000 after buying an additional 592,390 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of CDK Global by 175.8% in the first quarter. Wells Fargo & Company MN now owns 787,979 shares of the software maker’s stock valued at $51,226,000 after buying an additional 502,276 shares during the last quarter. FMR LLC raised its position in shares of CDK Global by 32.7% in the fourth quarter. FMR LLC now owns 1,956,615 shares of the software maker’s stock valued at $116,790,000 after buying an additional 481,839 shares during the last quarter. Finally, Credit Agricole S A raised its position in shares of CDK Global by 1,220.2% in the fourth quarter. Credit Agricole S A now owns 520,379 shares of the software maker’s stock valued at $31,061,000 after buying an additional 480,961 shares during the last quarter. 84.05% of the stock is owned by institutional investors and hedge funds.
CDK Global, Inc. (CDK) traded up 1.10% on Friday, hitting $61.70. The stock had a trading volume of 1,290,192 shares. CDK Global, Inc. has a 1-year low of $52.43 and a 1-year high of $67.49. The stock has a 50 day moving average price of $61.85 and a 200 day moving average price of $62.77. The company has a market cap of $8.96 billion, a P/E ratio of 31.56 and a beta of 0.73.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Tuesday, May 2nd. The software maker reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.08. The company had revenue of $556.30 million for the quarter, compared to the consensus estimate of $556.98 million. CDK Global had a return on equity of 126.04% and a net margin of 13.44%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. On average, equities research analysts expect that CDK Global, Inc. will post $2.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Tuesday, June 20th will be paid a $0.14 dividend. The ex-dividend date is Friday, June 16th. This represents a $0.56 annualized dividend and a dividend yield of 0.91%. CDK Global’s payout ratio is currently 28.57%.
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CDK has been the topic of several recent research reports. Zacks Investment Research lowered CDK Global from a “buy” rating to a “hold” rating in a report on Monday, February 27th. TheStreet upgraded CDK Global from a “d+” rating to a “c” rating in a report on Monday, May 8th.
In related news, insider Brian P. Macdonald purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were bought at an average price of $60.47 per share, for a total transaction of $302,350.00. Following the purchase, the insider now directly owns 96,877 shares of the company’s stock, valued at approximately $5,858,152.19. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.
About CDK Global
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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