Trexquant Investment LP decreased its holdings in shares of CDK Global, Inc. (NASDAQ:CDK) by 47.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 5,944 shares of the software maker’s stock after selling 5,456 shares during the period. Trexquant Investment LP’s holdings in CDK Global were worth $375,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of CDK. Koch Industries Inc. boosted its holdings in shares of CDK Global by 13,261.7% in the 2nd quarter. Koch Industries Inc. now owns 1,136,278 shares of the software maker’s stock valued at $1,118,000 after buying an additional 1,127,774 shares in the last quarter. Junto Capital Management LP bought a new stake in shares of CDK Global in the 2nd quarter valued at about $45,226,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of CDK Global by 82.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,290,870 shares of the software maker’s stock valued at $80,111,000 after buying an additional 584,720 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of CDK Global by 4.0% in the 2nd quarter. BlackRock Inc. now owns 13,718,146 shares of the software maker’s stock valued at $851,347,000 after buying an additional 521,564 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of CDK Global by 186.8% in the 2nd quarter. Renaissance Technologies LLC now owns 762,600 shares of the software maker’s stock valued at $47,327,000 after buying an additional 496,700 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.
In other CDK Global news, VP Jennifer A. Williams sold 1,984 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $62.58, for a total transaction of $124,158.72. Following the completion of the transaction, the vice president now directly owns 5,560 shares of the company’s stock, valued at approximately $347,944.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.39% of the company’s stock.
CDK Global (NASDAQ:CDK) last released its earnings results on Tuesday, October 31st. The software maker reported $0.68 EPS for the quarter, hitting analysts’ consensus estimates of $0.68. The company had revenue of $565.70 million during the quarter, compared to analysts’ expectations of $569.28 million. CDK Global had a net margin of 13.42% and a return on equity of 515.77%. CDK Global’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. analysts anticipate that CDK Global, Inc. will post 2.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, November 30th. This is a positive change from CDK Global’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 0.86%. CDK Global’s dividend payout ratio (DPR) is currently 29.13%.
A number of analysts recently commented on the stock. BidaskClub upgraded shares of CDK Global from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. Zacks Investment Research upgraded shares of CDK Global from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Tuesday, October 3rd. TheStreet upgraded shares of CDK Global from a “c+” rating to a “b-” rating in a research note on Thursday, October 19th. Finally, Barrington Research set a $75.00 target price on shares of CDK Global and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $72.60.
CDK Global 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.