Northeast Financial Consultants Inc purchased a new position in CDK Global Inc (NASDAQ:CDK) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 3,047 shares of the software maker’s stock, valued at approximately $217,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Macquarie Group Ltd. acquired a new position in shares of CDK Global in the 3rd quarter worth approximately $145,000. Overbrook Management Corp acquired a new position in shares of CDK Global in the 4th quarter worth approximately $203,000. Bredin Investment LLC acquired a new position in shares of CDK Global in the 4th quarter worth approximately $203,000. Atlas Brown Inc. acquired a new position in shares of CDK Global in the 4th quarter worth approximately $214,000. Finally, BB&T Corp acquired a new position in shares of CDK Global in the 4th quarter worth approximately $208,000. Hedge funds and other institutional investors own 85.65% of the company’s stock.
CDK has been the topic of a number of research reports. Barrington Research downgraded shares of CDK Global from an “outperform” rating to a “market perform” rating and set a $75.00 target price on the stock. in a research report on Wednesday, January 17th. They noted that the move was a valuation call. BidaskClub downgraded shares of CDK Global from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. Wells Fargo & Co reiterated an “outperform” rating and set a $80.00 target price (up previously from $75.00) on shares of CDK Global in a research report on Wednesday, January 31st. Morgan Stanley boosted their target price on shares of CDK Global from $76.00 to $77.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Finally, Zacks Investment Research upgraded shares of CDK Global from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $76.80.
CDK Global (NASDAQ:CDK) last released its earnings results on Tuesday, January 30th. The software maker reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.17. The company had revenue of $561.70 million for the quarter, compared to the consensus estimate of $564.94 million. CDK Global had a net margin of 14.29% and a negative return on equity of 5,261.95%. CDK Global’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS. research analysts expect that CDK Global Inc will post 3.26 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.85%. CDK Global’s dividend payout ratio (DPR) is presently 26.55%.
In other CDK Global news, insider Rajiv K. Amar sold 1,968 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $69.85, for a total transaction of $137,464.80. Following the completion of the sale, the insider now owns 11,072 shares in the company, valued at approximately $773,379.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott L. Mathews sold 5,514 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $68.91, for a total transaction of $379,969.74. Following the sale, the executive vice president now owns 48,520 shares of the company’s stock, valued at approximately $3,343,513.20. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.
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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.
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