Old Mutual Global Investors UK Ltd. cut its position in CDK Global Inc (NASDAQ:CDK) by 68.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 128,386 shares of the software maker’s stock after selling 284,941 shares during the period. Old Mutual Global Investors UK Ltd.’s holdings in CDK Global were worth $9,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of CDK. Frontier Capital Management Co. LLC raised its stake in shares of CDK Global by 11.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,579,837 shares of the software maker’s stock valued at $112,611,000 after purchasing an additional 167,520 shares during the period. Beacon Investment Advisory Services Inc. bought a new stake in shares of CDK Global during the 3rd quarter valued at $8,076,000. Middleton & Co Inc MA bought a new stake in shares of CDK Global during the 4th quarter valued at $9,062,000. TD Asset Management Inc. bought a new stake in shares of CDK Global during the 3rd quarter valued at $5,970,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of CDK Global by 25.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 418,924 shares of the software maker’s stock valued at $26,430,000 after purchasing an additional 85,700 shares during the period. Hedge funds and other institutional investors own 89.62% of the company’s stock.
CDK Global Inc (NASDAQ:CDK) opened at $71.62 on Thursday. CDK Global Inc has a 52-week low of $59.33 and a 52-week high of $76.04. The company has a debt-to-equity ratio of -11.19, a quick ratio of 1.97 and a current ratio of 1.97. The company has a market capitalization of $9,528.09, a PE ratio of 31.69, a P/E/G ratio of 1.45 and a beta of 0.67.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 1st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.84%. The ex-dividend date is Wednesday, February 28th. CDK Global’s payout ratio is 26.55%.
CDK has been the topic of a number of analyst reports. TheStreet upgraded CDK Global from a “c+” rating to a “b-” rating in a research note on Thursday, October 19th. Barrington Research set a $75.00 price objective on CDK Global and gave the company a “buy” rating in a research note on Tuesday, October 31st. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Wednesday, January 31st. Morgan Stanley boosted their price objective on CDK Global from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Finally, BidaskClub lowered CDK Global from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $76.80.
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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